Dear God. There's a ton of misinformation on this thread already and it isn't even on its second page yet (as of writing this). Why is it that no one can actually be impartial on this topic?
Okay, guys. I have a 360 and a PS3, and for christ's sake, they both have good aspects and flaws in measures so equal I literally couldn't pick a favourite if I had to. I don't think two machines have been so evenly matched since the Genesis/Mega Drive and SNES duked it out.
But, you know what? For the sake of people out there who genuinely want to know this sort of thing, I'm going to compare aspects of the two systems. The OP can read this and decide for himself. Plus, who knows? Maybe someone, somewhere, will have an epiphany and realise that neither console is drastically superior based simply on the fact that it's the console they own.
BluRay vs DVD:
The PS3 uses 25 gb single layer blu ray discs as standard. A handful of games (like FF XIII) come on 50gb dual-layered blu rays. The Xbox 360 uses dual-layered (8.5gb) DVDs. Both storage forms have their advantages. Much more content can be packed onto a single blu ray disc - negating the need for disc swapping - while DVDs can be read significantly faster. This leads to less discs (and occasionally extra content, as in Dead Space 2) for the PS3, and fewer/faster load times for the 360.
Game catalogue
When it comes to full retail releases, the PS3 generally has more quality exclusives, whereas the 360 tends to get the better versions of multi-platform games. The difference between most multi-plat games is usually indiscernible, and occasionally the PS3 gets the better version (as with FF XIII), but if you look at comparisons between the different console versions (available on many gaming websites), you'll usually find the 360 edges out the PS3 version with slightly superior graphics and faster load times.
Online services
This is an age-old argument. It's inarguable that Xbox Live is a superior service, but whether or not that service is worth the extra cost is purely subjective. XBLA has many more quality exclusives than PSN, but PSN has a large catalogue of the PS1 games we already know and love.
Xbox Live has more features, but they're almost universally Gold only, and the PS3 packs a web browser.
The winner here really depends on your level of online usage and consumption of DLC. If you're a big fan of online multiplayer, you'll probably find the extra cash for XBL Gold money well spent. If you only dabble in online play from time to time, you'll find PSN more than sufficient to meet your needs. If you like to play new, small-budget indie titles, you'll find more of them on XBLA. If you prefer to relive 32bit classics, PSN is the way to go. XBL gets a lot of timed exclusive DLC first, but they usually end up on PSN eventually.
XBL also has a tremendous amount of indie games in XBLI.
Controller
Again, largely subjective. It's all but inarguable that the 360's D-Pad blows and the PS3's triggers are inferior, but that's were reasonable comparison ends. Do you prefer a smaller and lighter controller, or something a little bigger with more weight? Do you prefer the positioning of the PS3's analogue sticks, or the 360's? It's worth noting that the 360 wireless controller requires either AA batteries or a play & charge kit.
Hardware & Additional Features
The old 360s crap out and die a lot. There's no arguing this. They also come without built-in wireless. Is it still worth bringing this up, though? The only point in comparing the consoles is to either make yourself feel better about the purchase you made - in which case you get to shut up - or to try to decide which console to purchase. Since the new 360s have been rolled out and they don't have either of those problems, and this thread is about which console the OP should purchase, the old 360's hardware troubles are a non-issue unless you're buying a pre-owned system.
As for additional features, this area is, again, purely subjective. I do feel the PS3 has the upper hand, with Blu Ray playback and the potential for 3D gaming edging out things like XBL's features and Avatars, but for someone who doesn't care about playing Blu Ray or has an SDTV, the 360 might be a better choice.
In Closing:
With the consoles so evenly matched, there are only two really important things you need to consider before making a choice. The first is: which exclusives do you prefer? Does Little Big Planet 2's level creator look like the best thing ever, or are you itching to get behind a gun in Halo: Reach?
But most importantly: Which system do most of your friends have? If your friends are all playing on PSN, you don't want to be the only one sitting on XBL looking at an empty friend list. Likewise, if your friends all have 360s, you'll find that while your PS3 will read Blu Rays, it certainly won't read any 360 games you borrow from your friends.
