Thanks all for the replies, I have come from a Playstation and basically want something as close to GT as poss. I finally let in to the fact I can not justify (nor realisticaly afford) over £300 for a console when the 'box is less than half that price.
I do not have the luxury of a HD tv but in all fairness coming from a PS2 the graphics are great. Gears of War 2 is simply stunning. My dad has a HD tv with a PS3 and when comparing the two on his tv there is not much in it really. If anything Gears is better than anything he has ( Enchanted, Resistance 2, Oblivion and a few others.) Still as a piece of equipment and not just a console the PS3 is a simply incredible piece of kit. He has a terabite hard disk linked to it and providing he is in a WiFi zone with his PSP he can view any thing from the PS3 like Pictures, music etc where ever he may be.
Anyway I am sure all of you with PS3's are well aware of how good it is.
Thanks all.