Having been a gaming junkie for the last few weeks, I think it's about time for Apple to introduce the iBox. A key hurdle for other gaming console manufacturers is price, Sony and Microsoft currently sell their consoles at or even below cost to get their consoles out there and recover some of the cost via licensing games. This shouldn't be a problem for Apple, the iBox will be manufactured in China for $200 and retail worldwide for $3000. This will enable Apple to aggressively support the iBox's expansion by one of those cute: "I'm a PS3, I'm an iBox" campaigns.
Apple will also sprinkle the iBox with those absolutely useless features that people love like a glowing fruit(tm Munqy)on the iBox's back or a sensor that will sense when your iBox is in freefall and stop your harddisk. The latter would be very popular with gamers, since when your $3000 console is freefalling you'd usually be worried sick about your saved games. People will not stop talking about those features and this will create even more word of mouth for the iBox.
Much like the initial iPhone missed some much-needed features (e.g. copy and paste), the first iBox will miss a few things, like a controller. Those marginal features will not prevent the iBox from becoming an instant success and eventually becoming the leading gaming console.
Stupid PS3, I want an iBox.
Note: A very interesting article about Apple's potential gaming console here.