9 Gadgets Set to Top Holiday Wishlists: PS4, Xbox One, iPad 5 & iPhone 5S

Xbox One

Get ready for a new console purchase that will cost more than just the $499 entry-level price before you can call holiday shopping over.

The Xbox One is Microsoft's first new gaming console since 2005, and it delivers a new gaming and multimedia experience with a console experience that includes a better version of Kinect, cable box connectivity and more.

Read: Xbox One Exclusive Games List

Microsoft backed down on DRM restrictions that many shoppers may have heard about, and will let user play used games, sell their old games and share discs with friends.

While a lot of the talk is about multimedia connectivity, games look great on the Xbox One, as shown in this Xbox One gaming demo

The Xbox One will not play Xbox 360 games and will not work with Xbox 360 controllers so if you buy this as a gift plan on picking up a second controller and at least one game.

The Xbox One retails for $499 and Amazon pegs the Xbox One release date as November 27th. While the price is official, the release date is not. That said, it will arrive in time for the holiday shopping season, just brace yourself for the surprising true cost of the Xbox One.