There was quite a bit of discussion about this a while back, but it has been a while. Basically, for purely video switching, the 990's DVI inputs and output are capable of switching DVI and HDMI without any issues at all. We poked and prodded at it in some detail (including a few e-mail exchanges with Outlaw to verify our assumptions with the design team), and confirmed that HDMI video signals can be switched without any concerns about "blacker than black" data loss. You can even now get DVI-HDMI cables from Outlaw now (they're only listed on the order form, no information elsewhere yet). As for audio, however, the final HDMI audio specs remain in a state of flux and the potential for the final form (the one that you would have on a Blu-Ray or HD-DVD player) to require different hardware is what drove Outlaw to stick with a purely video switching solution and to use DVI connections to avoid any confusion as to whether audio is supported or not.

The PS3 will support Blu-Ray media and will have an HDMI output. I haven't seen as much information about the XBox360, but it sounds like PodBoy's kept up with it and if the information he's seen is correct then the PS3 is likely to be the only next-gen console with a digital video output.