As of right now PS3 is a quieter, more reliable system, that cost more at first, but is lacking some of the great 360 only games and online user community. But due to it reliability and complexity will last longer and save you money in the long haul.
PS3 Advantages:
-Free online
-Better graphics (Once again slightly noticable)
-Blue-Ray player
-No system hardware problems known to date
-Has a web browser ( can use Youtube, myspace, and etc.)
-Free built in wifi
-The PS3 is Silent!
-Chargeable controller
-Great tech support (better the microsofts)
-Can install games to HD
-can listen to music in game
-Ps3 will last longer (due to it complex cell processor)
-More games coming out in future for the console
Best price you can find for the PS3 (remember to check out the Move Bundle as well):
http://www.amazon.com/PlayStation-3-160-GB/dp/B003VUO6H4/ref=cm_cr_pr_pb_t&tag=bilo-20
Top 5 MUST have games right now in PS3
• NBA 2k11
• Fifa Soccer 11
• Castlevania: Lords of Shadow
• Heavy Rain
• Dead Rising 2
Latest bestselling game list of PS3:
http://www.amazon.com/gp/search/ref=sr_nr_p_72_0?rh=n%3A468642%2Cn%3A!11846801%2Cn%3A14210751%2Ck%3Aps3+games%2Cn%3A14210861%2Cp_72%3A1248885011&bbn=14210861&sort=salesrank&keywords=ps3+games&ie=UTF8&qid=1286859386&rnid=1248883011&tag=bilo-20
PlayStation 3 is not only a video game console, but also designed to be a digital entertainment device or home-entertainment computer. It features in its special CPU called the Cell Processor, which can be updated for different performance needs! Besides, it incoporates marvelous memory capabilities which enable you to play games and watch movies at the same time. With PS3, you may enjoy a luxurious visual-dinner for its support of high-definition. Another benefit is that does not require to pay "double fees" to play online games and download videos.
What else can the PS3 do? Can Upgrade your hard drive and Import games from other countries.
Here is a very good comment from an actual player of PS3:
http://www.amazon.com/review/R1RH4Y0V917E0K/ref=cm_cr_pr_perm?ie=UTF8&ASIN=B002I0H738&nodeID=&linkCode=&tag=bilo-20