For the uninitiated- Backwards Compatibility is a console's ability to play games that were made for past consoles, e.g. The PS2 being able to play all PS1 games.
I've always wondered what the average consensus on this is- How much do you value Bacwards Compatibility in upcoming consoles you're thinking of getting?
For me, it is the single most important feature a console can have. I couldn't care less about the processing power, graphical capabilities etc- the first thing I want to know is how many of my old games can I bring with me, because I play my games for keeps. Even if it's a virtual system I find that much better than a console neglecting past games and not bothering to support them.
I was utterly crushed when my girlfriend got a Wii, and I found as a newer generation Wii it could not play Gamecube games. Having played Rogue Squadron to death on the N64, I was all geared up to get the gamecube sequel, but nooooo.
So how about you? Kind of a big deal? Or not?