They are both great systems.
I have a 360 and prefer it for online games. The PS3 succeeds in having a built-in bluray player(which IMO is one of the main reasons that Blu-ray won the format war over HD-DVD). I can't wait to see Microsoft swallow adding a built-in bluray player to their next system. Again IMO the 360 has a better online experience although you have to pay to play online, which leads to another reason the PS3 can be considered better with its free online play.
In the graphics department both systems seem equal as my friend has a PS3 and I play weekely on it. Some games seem better on one system over the other on multi console games though.
In terms of the new motion technology, the PS3 wins hands down. I played both and while the kinect is good it gets boring quite fast. The PS Move however is a vast improvement over the Wii-Mote.
I would get the PS3 to play the exaclucive games and as a bluray player but I already have a 7.1 channel surround sound Blu-ray player, and don't have the need for a second Blu-ray player. Even though the PS3's loads Blurays in about 10 seconds compared to my home theator's about 2 minutes.
As for games Microsoft's dominance with the Halo series is over, most of the games comming out this year that I want to play, mostly FPS are going to be multi console: Duke Nukem Forever, Crysis 2, Uncharted 3 PS3 only, even Mass Effect 2 is supposed to be commingle to the PS3. Microsoft seems to be to focused on the kinect as of now. The only title I see my self wanting to play is Gears of War 3.
So in my opinion the PS3 is the all in one console for every thing you would want to do. The 360 is great for its exclusives but lacing a Blu-ray player, it does however have a more comfortable controller.
That's my 0.02. On the consoles.
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