You need to use == and not = inside if statements.
As you want to compare right hand side with left hand side, and not set right hand side to left hand side.
Example:
a = 5 + 6;
This means that a is set to be 5+6 which is 11, so a will be 11
a == 5 + 6;
This checks the value of a to see if it is the value of 5 + 6.
So you should try this:
HTML Code:
<if condition="post['fieldxxx'] == 'Xbox 360' ">
<img src="path.to.image/$post[xbox].gif" alt="" />
<else /> <!-- User must have picked PS3 -->
<img src="path.to.image/$post[ps3].gif" alt="" />
</if>
Of course you could also incorporate more platforms like this:
HTML Code:
<if condition="post['fieldxxx'] == 'Xbox 360' ">
<img src="path.to.image/$post[xbox].gif" alt="" />
<else />
<if condition="post['fieldxxx'] == 'PS3' ">
<img src="path.to.image/$post[ps3].gif" alt="" />
<else />
<img src="path.to.image/$post[pc].gif" alt="" />
</if>
</if>
That should work, but I haven't tested it.
Found it on the vBulletin Manual
HERE