1. There's still life in the old Xbox 360
Before you rush out to order an Xbox One, consider this. The current Xbox 360 still has much to give - just take a look at the incredible and mesmerizing GTA V, which isn't available on either of the next-gen platforms. (Yet).
It's also worth noting that many of the games that are available for the Xbox One are also available (or incoming for) the 360 - Battlefield 4, Call of Duty: Ghosts, FIFA 14 and Assassin's Creed IV: Black Flag to name but four. Heck, even Titanfall is actually a Microsoft exclusive rather than an Xbox One exclusive. You'll be able to play it on the Xbox 360 in 2014.
2. The best Xbox One games aren't out yet
While exclusive titles like Dead Rising 3 and Forza 5 aren't available for the Xbox 360, the best Xbox One games are surely yet to come. Think Watch Dogs, Below and Destiny, Project Spark, Sunset Overdrive and Halo 5. Launch games are quickly forgotten and we'll get a better idea of the Xbox One's potential in six months from now, when delayed games have been released and new franchises (Gears of War for Xbox One, anybody?) have been revealed. Even jetpack shooter Titanfall has been delayed until March 2014.
3. The Xbox One is pricey
At $500/£429 for the basic console pack, the Xbox One is a fair whack more expensive than the PlayStation 4. That's a lot of money, especially when you consider that the Xbox 360 launched at a far more affordable price back in 2005. By not jumping in as an early adopter, you probably won't pay full price or be forced into buying a more expensive console bundle because all of the standalone machines have sold out.
While the Xbox 360 didn't get its price reduced until 20 months after launch, Sony dropped the high RRP of the PlayStation 3 a mere seven months after its debut. Don't rule out an Xbox One price cut in the summer of 2014.
4. Never buy version 1 of anything
Microsoft knows only too well that it's hard to launch a new console without encountering a few problems - the infamous Xbox 360 'red ring of death' claimed many a launch machine before newer and cooler versions of the hardware managed to eliminate it.
Sony too has suffered 'blue light of death' syndrome with a tiny number of launch day PS4s. So sit back. Wait a while. The first version of any complex technology product is often plagued with frustrating niggles, bugs, quirks and missing features - the UK version of the TV Guide won't be up and running until 2014. Consider Apple's original iPhone, which launched without 3G connectivity, video recording and an LED flash. It will take time to bang the Xbox One into shape.
5. The next-gen console war is just beginning…
Which console is better? The Xbox One or the PS4? You can't judge a new system on the first version of a console's software and the handful of games that developers rushed out to meet its launch date. Ask the question again in six months time. Or better still, ask it in a year's time, after cool new features have been added, delayed games have finally been released, and brand new titles have been announced at CES and E3. Only then will we get a true idea of which console has its nose out in front, what their limitations are, what has captured consumers' imagination and what hasn't.
Are you buying an Xbox One as soon as you can get your hands on one? Or do you plan to wait? Let us know by leaving a comment.
Need more Microsoft? Maybe this awesome Xbox One smartphone render (yes, you read correctly) will please your peepers: