I'm showing my age by saying this, but I remember goofing around with many of the early Electronic Arts (NASDAQ:ERTS) titles during high school. I used to make computerized pinball machines with Pinball Construction Set. I dealt with the rudimentary graphics as I dribbled away in some One on One hoops action. I even took part in a neighborhood league where we'd input baseball-card stats into the original Earl Weaver Baseball game.

Good times.

Apparently, the times are getting even better. Next-generation consoles by Sony (NYSE:SNE), Microsoft (NASDAQ:MSFT), and Nintendo (OTC BB: NTDOY.PK) are raising the bar on what games can do, and the gamers are all over it. Market-research firm NPD reported a better than 22% rise in video software sales last month over August of 2006.

As the industry leader -- with a market cap greater than those of its nearest rivals, Activision (NASDAQ:ATVI), Konami (NYSE:KNM), and THQ (NASDAQ:THQI), combined -- EA is a popular company. But is it too popular? Not all Fools agree.

Tim Beyers is our bear this week. He thinks the company's valuation is too rich. I'm the bull. I argue that the only thing that's rich will be EA's investors.

Which Fool will deliver the winning argument? That's what this week's bout is all about.

Duel on!

Activision, Nintendo, and Electronic Arts have been recommended to Motley Fool Stock Advisor newsletter subscribers. Microsoft is an Inside Value stock pick. Want to play? The game is free for the next 30 days, with free trial offers to either newsletter service.

Longtime Fool contributor Rick Munarriz has been playing video games since Pong. Ahh, memories of the Atari 2600. He does not own shares in any of the companies in this article. The Fool has a disclosure policy, and it flies coach with a first-class ticket.