The cpu isn't as impressive as I had expeted. 3Ghz capable of 6 instructions per cycle, compared a 2.2Ghz Atlon XP at 9 instructions per cycle.
Xbox 2 cpu - 18 Billion instructions per second.
Athlon XP 3200+ - 19.8 Billion instructions per second.
So, the Xbox 2 doesn't beat the best PC's CPU speeds. But, it also doesn't have a large OS to eat up alot of the power. So, the xbox 2 should be able to match or beat the best computers, but not by much.
The 256Mb of system ram is pleanty, because there isn't a huge os to steal most of the ram like a pc, and programmers can use the memory much more effeciently. So 256Mb for the xbox = 1Gb for the PC.
There is 1 thing I don't like about the xbox 2 specs. It doesn't have support for HD-DVD media. I would like to see it support HD-DVD media, but sell any games that don't require the extra space on dual layer original dvd's.
I also don't like the idea of important pieces of hardware being optional(Hard Drive.)
And I would be willing to bet that M$ will not include the usb2.0 camera in the default hardware, it will be an optional accessory.