Time has their 2006 Tech Buyers Guide up and running, a handy shopping resource for the gadget head in your family. The video games section lists the hottest consoles of the season, though I suggest you steer clear of number three.

A broken 360? Awww mom, that's the same thing I got for Christmas last year!
Update - Yes, I realize now that four red lights means the AV cable is unplugged, but I realized it far too late. Imagine, if you will, one of the lights being out. I'll be under this here rock if you need me.
Time's Tech Buyer's Guide 2006 [Time - Thanks Ryan!]
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