the price is more then justified, if the system offers something you want. whether you want it for the games offered or the blu ray play, then yes it's worth the money.
what i dont like, and i do kind of praise ms for, is sony is forcing the technology on us (which blue ray is not need for games yet). but microsoft is giving us the choice of supporting it or not.
yes, the costs even out between the two systems, however if you dont have an hdtv, what good is the blue ray player going to be?
and back to the hdmi cable, no- there usually arent florescent lights behind a tv, however- if your using an hdtv like a plasma or lcd...you will get somewhat near the same effect. right now, my setup has a dlp projection tv, pioneer 816k receiver, a monster power regulator, plus all the gaming consoles and digitial cable box. now, if i'm running multiple hdmi cables back there, i'm going to want some kind of shielding on them. plus, although cat5 cable doesnt have shielding, it does use the twisted pair "technology" to help shield itself.