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Fighting for the Living Room
As many reviewers have pointed out, the Xbox One is essentially a well-wrapped gaming PC for the living room. Through various engineering and design practices, the One is capable of playing games at a higher FPS rate than most $500 PCs. Nonetheless, it remains more of a computer than other traditional gaming consoles.
Prior to the Xbox One unveiling, many speculated whether Microsoft would work with Sony in order to license its Blu-ray technology. Microsoft ultimately did integrate Blu-ray into the console, making it much more of a contender to rule the living room/family room space. And, while you may not be able to eliminate your physical cable box entirely if you use the Xbox One, the console is capable of controlling a cable box, and effectively allowing a user to deal with just one living room device.
Overall, the Xbox One has a lot going for it, although it's not yet fault-free. When you combine the Kinect's functionality with the console's plethora of features, it definitely seems that the Xbox One could become a core living device in the long run, and certainly a hit in the meantime, for this holiday season.