This is still my PS3 of choice because it offers one thing that no future versions do: PS2 compatibility. That said, it has significant power and heat issues - it runs hotter than any device in my AV cabinet. Until I add proper ventilation, I always have to run this with the door open. Although I like the backwards-compatibility, it's a no-brainer to go with the most recent versions instead due to these heat problems which were presumably mitigated.

Its Blu-Ray compatibility makes it my only physical-format media player, and it handles that with aplomb. It has the advantage over any other blu-ray player of constant updates necessitated by Sony's efforts to keep it competitive against the Xbox.

The Playstation used to be my console of choice, and although I have mostly moved on to the Xbox 360, the Playstation system still holds fond memories. I prefer its media integration to the Xbox, and I enjoy the minimalist interface more. While I use the Xbox for most of my gaming, I prefer this one for movie night.