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I have both and they're both fun but have technical drawbacks. If someone merged both technologies on one console, they'd have something good that could actually replace a controller but for now they're just fun novelty peripherals.

The Move is a Wii knockoff except way more precise and the navigation controller allows you to move your character in a game. But the precision is limited to your hands. You play a game like The Fight and you can't move your feet which sucks.

The Kinect tracks your whole body but no controller means you can't move your character. So everything is on rails. It also has a noticeable latency. You also can't do shooters like you can on the Move. It really shouldn't be that hard for MS to put out a controller that you can hold while the Kinect tracks you so you can move your character but with the latency and less accurate tracking, a shooter still wouldn't be possible.

For now, it all comes down to the game library, especially core games. I think Sony is doing a better job right now. Look what they did with Heavy Rain.
 
I have had the chance to play the Kinetic yet, but I do have the PS3 move. It's amazingly accurate, far better than the Wii. I like the way Sony is implementing the move. They are splitting it two ways: 1. The casual market with games like Eye Pet and 2.) the hardcore gamer with Killzone and SOCOM. I played the move version of Heavy Rain and it makes alot more sense using the Move controller than the Right Analog stick. I'm really excited at what is coming out this year.
 
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