In case you somehow missed the billion or so dollars’ worth of advertising, this holiday season has witnessed the debut of two brand-new, next-generation video game systems: Sony’s PlayStation 3 (list price $500) and Nintendo’s Wii (list price $250). How do you choose between these pricey, scarily advanced consoles, not to mention their existing competitor, the Microsoft Xbox? It all depends on your budget, and who you’re buying for. Here’s a quick guide.

Step One

For your kids. Have your tweens been really, really (really) good this year? Do you have a relatively new, wide-screen TV? Then, if you can find one, the PlayStation 3 is your best bet; this system has been generating more buzz than the Apollo moon mission. However, keep in mind that you’ll have to monitor your kids closely, since some PS3 >games are only suitable for adults. If your kids are pre-tweens, you’re probaby better off sticking with the Wii, which has more family-friendly games.

Step Two

For your relatives’ or friends’ kids, the main rule to follow here is very simple: Ask (the parents, that is, not the kids). It may well be that your sister-in-law looks dimly on video games in general, and little Kenny’s grades haven’t been quite good enough to merit such a lavish gift. Or it may be that some other relative is buying the kids an XBox, and the video-game portion of the holiday gift registry is officially closed.

Step Three

For your husband (or boyfriend). The odds are that your significant other has already dropped some heavy hints about his dream gaming system, so this shouldn’t be too difficult a choice. However, bear in mind that attaching a PS3 to the living room TV is like inviting a third person into your marriage. Before he opens his gift, make it clear to your spouse that your needs come first, or you’ll donate his brand-new toy to the Salvation Army.

Step Four

For yourself. If you’re planning on buying yourself a PS3 or Wii as a gift, you're probably completely unencumbered by girlfriends, regular friends, or close family members—so the only consideration here is how much you can afford. Remember, on top of the console price, you’ll have to feed yourself a steady diet of $50 or $60 games—but it’s not like you’re spending that money on dates, right?