Ah yes, SROKE, a peice of software can only perform within the limits of its design, irrespective of the hardware that it\'s running on. While HalfLife may look the same on your P5-2GHZ (2GHZ? purdy slow for a P5) as it would your P3-900MHZ, other games designed to utlise the power of the GeForce4 and the P5 will look a helluva lot better.
By mentioning hardware utilisation, you have raised the subject of the accessability of power, better known as developer friendlyness. This is something that the PS2 lacks, in the most relative of terms. We\'ve seen this fact manifest itself in the form of Jagtastic Japanese Launch games and now the unofficial complaints concearning the archaic nature of Vector Unit Optimisations. (Square, FFX-Delays, etc. etc.)
Credit must be given to Sony for improving things since the days of "hard coding" and the non-existance of high level PS2 libraries. However, dispite what is (assumed) officially described as Sony\'s best efforts, the Xbox\'s accessability in this respect, by far eclipses the PS2. One is hard pressed to legitimately argue the contrary.
This of course has very major implications. Afteral, developers are faced with two consoles, with one having formidable advantages in both fields of technical capability and the accessability of said aspect. Bar any major unexpected "twists", these two Xbox advantages will ultimatley outweigh the PS2\'s current popularity, as the PSX did the Saturn. (although not in as dramatic a fasion)
Simplified Version of above:
Xbox Power > PS2 Power
(this includes the widespread utlisation of the Xbox\'s HDD)
Xbox Developer Friendlyness > PS2 Develper Freindlyness
Xbox Game Quality > PS2 Game Quality
Given Time:
Xbox Fanbase > PS2 Fanbase
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Though this might be my qualified prediction of things to come, it is non-the-less, just a prediction. Don\'t get too worked up by something that might not happen at all. In short, please don\'t flame.