Despite all the flack it's gotten, I quite enjoyed Colosseum. Being bundled with a memory card did a lot to make it a reasonably priced purchase. XD does *not* come with one, so I'm very reluctant to go there, especially at full price. I'll likely pick it up second hand, at some vague point in the future. I do need either it or Fire Red to finish up my National 'dex, and I don't *really* want to bother with Fire Red - apart from 10 pokémon I can't get through my other games, FR is exactly the same as LG.
Channel is really just a distraction for younger users. Best played as a rental. The PAL release does have Jirachi on it, which is an incentive of sorts for European and Australian players...