What's a good prize to give our for contests/giveaways

Something that isn't too expensive, like a PS3, but something that's not too cheesy...like how about MS points, or PSN points, or Wii points, or video games? Would people participate in stuff like this?

Also, what if you asked for a video response? Should the prize be worth more?
 
You should give away like £10/15 worth, and give the option of 5 different things: MS points, PSN points, Wii points, Steam credit or Origin credit. That's pretty much what you said though...
 
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