Sony on their blog just released a two part video demonstration of Firmware 2.40 and it looks to be one whopper of a firmware. Delivering what fans have been asking for in-game XMB, in-game custom tracks, in-game messaging and of course the long awaited Trophy system!

Games consoles can often live and die by the exclusive games available for them, and while Rock Band 2 is set to be released on the Xbox 360, Playstation 3, Playstation 2 and Wii before year’s end, the Microsoft machine has managed to secure timed exclusivity which will means months between the release on the Xbox 360 and the other consoles.

Since the beginning of time.. okay not quite that long, but for many years there have been speculation that Metal Gear Solid 4: Guns of the Patriots will in fact come to the Xbox 360. Even EGM had several issues where this was speculated in their infamous rumors section of the magazine. There have also been speculation by famed video game analysts N’Gai Croal and Michael Pachter that Gears of War 3 will be coming to the PS3.

Which current-gen console has the best games due out over the next few months? Is it the Sony PS3, Microsoft Xbox 360 or Nintendo Wii? Can either of the hand-held console options, the DS and PSP, even compete? We asked our readers, and the results are in.

It was recently revealed on the latest issue of Famitsu that PS3 will indeed be getting their own Tales game much like Tales of Vesperia which is exclusive to the Xbox 360. It look’s like Namco Bandai will be releasing three games falling under the Tales franchise.

The Sony PSP has been somewhat of a failure everywhere outside of its native Japan. All of the elements were there to make the PSP a great and best-selling handheld but for various reasons it has failed to live up to its promise. Meanwhile, Nintendo has continued its dominance of the hand-held market with its innovative, and above all fun, DS.

Wow, what a day! Insomniac and Sony heads talking smack about the opponent, Microsoft’s Xbox 360. It seems like its double gang up on Microsoft day today. It was Microsoft who did a bit of mudslinging not that long ago and it seems it’s time for Sony to return the favor.

Would a price cut for either the PS3 or Xbox 360 finally push you over the edge and make you purchase one of the current-gen consoles? There is strong speculation today that both consoles may soon be heading down in price to make them just as readily affordable as a Nintendo Wii.

Forget the Wii for the moment. I know, it’s a tricky thing to do seeing as it’s still selling in huge numbers and rallying against all the anti-Nintendo bias and vitriol aimed in its direction. We need to forget the Wii as we are about to travel to Europe and talk about the battle, not only of sales figures, but also of talk, between the Xbox 360 and Playstation 3.

What a busy day today has been, not only has Microsoft announced the release of a new tool to help gamers transfer downloadable games from one Xbox 360 to another 360 without getting slapped with DRM issues, Sony has announced a new movie and ‘Life’ service coming soon.