Cooltech2k: You obviously haven't seen the Gamecube in action or you wouldn't have said that. With amazing developer support, companies are producing AWESOME games for the GC that spank the first-run XBox games silly. The Xbox has more power and better hardware but the FUN FACTOR is smaller than its HYPE. Also at $100 cheaper than the Xbox and $50 than the projected price of PS2 in November, the GC will be the best bang for the buck.
BTW, I am totally NOT biased towards Nintendo. I was a hardcore Xbox advocate until I saw for myself what the GC is capable of. Nintendo has learned from their mistakes, and has added a HUGE color palette, support for large textures, and most importantly, accomodating middleware for its developers, all of which the PS2 lack.
The Xbox's excuse? All I can say is that yeah, the games look great and are fun, but all look like PC games. Woo..