Nintendo 64 system: $25.95
For those parents out there who are feeling pressure to buy their kids Nintendo Wii's or Playstations 3's, here's my rule of thumb: When your kids are mature enough to need the latest, greatest, coolest, video game system, they have hit the age where they are also cool enough to pay for it themselves ... with their own money.
Buying a 5-year old a $300 video game system is stupid. Do you really think he'll enjoy it any more than this $25.95 Nintendo 64 system, available used on Amazon? Of course not! Nintendo 64 was fun 10 years ago and it's fun now, gosh darnet. These days you can buy a lot of N64 games for a little more than 2 dollars apiece, and young kids have short attention spans so a wide variety is key.