Which console should I buy during Black Friday: Xbox 360 or Xbox One?

Absolutely get a 360. The game library is huge and used games are dirt cheap. It's going to be at least another two years or so before they know/care enough to specifically want the newest thing, and by that time the Xbox One will be less than 200 dollars and you will have gotten two consoles (and two presents!) for less than the price of one.

If your children are that young, and looking for a specific genre, I would seriously consider the 360. The game library is vast, and the current generation is building momentum rather slowly towards a good library. Also, your children may not be as discerning regarding cutting edge graphics, and the 360 still holds up well. The older generation will be supported for a little while yet. There are some good games on the horizon for the One, but perhaps not always for the age group you are looking at. I would recommend comparing the game library for the http://en.wikipedia.org/wiki/List_of_Xbox_360_games and the http://en.wikipedia.org/wiki/List_of_Xbox_One_games and see what might best suit your children. Just a quick note of comparison, there are 1126 games for the Xbox 360 and about 112 playable for the Xbox One at the moment.

ALSO: If your kids are interested in Disney Infinity, consider how happy they would be with: 1. Xbox One & Disney Infinity 1. Xbox 360, Disney Infinity, and $100 worth of Disney Infinity booster packs The second option is going to be WAY more fun, and cost you at least a hundred dollars less (probably a bit more of a discount than $100 because the 360 version of the game will be cheaper).

Get the 360. Go buy all the Lego games used at Gamestop or similar place. Get Infinity and buy the boosters. Have fun!

It won't be too long, if it hasn't started already, that new games simply will not be available for the XBox 360. Further, most games don't allow multiplayer between the two consoles. That doesn't mean you have to get the XBOne, but if you anticipate that your kids will want the new games (and will continue to want new games in the future), then the XBOne is maybe a better idea.

I'd also like to suggest going with the Playstation 3 if your kids have any desire to play multiplayer online If we're suggesting things not in the FPP, there's the Wii-U too, which has the excellent Lego City Undercover, unavailable for other systems. Disney Infinity is also available for it, and you might even be able to find it on discount or in a bundle: I got mine last year $50 off at Target.

Nothing in the present catalogue of Xbox One games justifies buying it over a 360. Save the bucks and get the older one.

I think if you can swing it, get the One. Your kids are at an age where it could go either way - if they were both under, say, 7, it wouldn't be an issue to go with the 360, but in a few years when the older one is 12 or 13, I'd imagine they'll want the One anyway (if gaming still interests them). Beyond that, for your non-gaming purposes, the One has better entertainment features and may be more useful to you from that perspective (Blu-Ray player, TV channel stuff, etc).

I'd suggest the 360, for all the reasons stated above - deep catalog and used game prices. In particular, I'd suggest getting the 250G version, instead of the 4G "Arcade" version (others with experience might want to weigh in about adding external storage instead). More space for download games; there are 2 free every month if you get a Live Gold account and usually one is a "kids" game. During the holidays you can find easily 12-month cards for $35-40. One factor you didn't mention as important - the Xbone can play BluRays, the 360 can't.