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The Video Game Wars

For thousands of devoted gamers, the waiting will finally come to an end at the stroke of midnight, when the Sony PlayStation 3 goes on sale. Long lines trail around electronics stores from coast to coast — and some people have been waiting in line for a week, in all kinds of weather.

In Manhattan, CBS News correspondent Anthony Mason stood in line with a few hundred anxious future PlayStation owners.

"When did you get here?" Mason asked Angel Paredes.

"Monday night at eight o'clock," Angel said.

Hundreds are now behind him in a line that stretches for a full city block. And the list for those in line is long.

"It's about 6 pages so far," said Sean TK who is keeping watch over the sign-up sheet.

"We take names. We gettin' 'em in order. Everybody gotta' fair chance to get their game," TK said. "That's all."

The long-awaited PlayStation 3 goes on sale at midnight. But what is it about this that's worth spending three nights on the street for?

"It's the most wanted piece of technology right now," a girl said.

But it is not the only game in town. Nintendo's new Wii console comes out this weekend.

"So for the business, this is as big as it gets. This is the huge monumental shift that happens once every 5 years to the next generation of consoles," said John Broady of Gamespot.com.

Microsoft's XBox 360, already out for a year, has sold six million units. But Sony, which still has 60 percent of the market, spent billions to create the new PlayStation 3. Most of that was spent on set of revolutionary microchips that generate its incredibly detailed graphics.

Kaz Hirai, head of gaming for Sony USA, says in its new basketball video game, a player's sweat is actually calculated according to his exertion and the contours of his face.

Of the six years it took Sony to develop the system, were they working on the sweat the whole time?

"No, we were sweating the whole time," Hirai said.

They were sweating because the states are so high in this $10 billion gaming business.

"It's undoubtedly the most advanced piece of electronics that anyone's ever tried to mass manufacture," Broady said.

And Sony literally can't make them fast enough. That's why there are lines all over the country tonight. In California, two kids offered their places in line for sale on the Internet for $1300 a piece — that's more than double the price of the PlayStation. But most of the crowd isn't budging.