Well, It all depends on what type of gamer you are. Right now I have a ps3 and I LOOOOVE IT!! Both are good though, but I think the PS3 is the bigger bang for your buck.
Here is my recommendation:
If you want a multimedia console that has online(gaming, movie downloads, etc) overall focus on intense gaming (like mature and teen games), and great exclusives(ex: Gears of War, Halo 3, Tenchu Z, etc): Then get the Xbox 360
Some Xbox 360s have hardware problems. My friend is on his 3rd Xbox 360 (red rings of death), which he bought his first one at launch. But also my one friend who recieved his last Christmas hasn't had any problems. Microsoft now gives a 3 year warrenty, so just incase it does happen your going to be protected for a while.
If you want a multimedia console that has FREEE online, is well balanced with all types of games, good exclusives as well (Heavenly Sword, Lair, Ninja Gaiden:Sigma, Little Big Planet, Resistance etc) and many other features like Web Browsing and PS3 Home: Then get the PS3
PS3 doesnt have rumble or much games, but rumble controllers and games will come out around christmas
I like the PS3 because it comes with wifi, blue-ray, 60gb, and rechargeable controllers. Also if you wanted this same amount of power (except for more gigs) on your xbox 360 elite ($479) it would cost around $846.98 total for the wifi ($99), HD-Player( $199), 1 year of XBOX live ($50), Charge Kit ($20)
This would save you around 300 bucks
PS3 Price: (estimated cost around $550 with hdmi chord)
Plus: Microsoft only allows the 360 to be compatible with Microsoft equipment (ex: hardrive and headset) So if you like wanted to upgrade you ps3 or buy a mic, you could go to ebay and find one really cheap. I found my mic for 4 bucks lol and have found 120gb hardrives on ebay for around 100 bucks, still making it cheaper than the 360. But then again you might not use these extras, so you might wanna go for the wii or xbox 360 since of the price difference.
Many people also compare the PS3 to the Xbox 360 and say that the Xbox 360 is better based on present facts (like the guys above me). DUHH! The 360 has been out a year longer than the PS3. The PS3 hasn't even been out for very long to release all these great games and present all of its great features. By christmas PS3 will be BOOMING with great games, along PS3 Home, and xbox 360 will only be hanging on by the overated Halo 3. Dont get me wrong, Halo is a great series, but it is just overated.
Again like I said, it all revolves around what you like and what you can afford. If you can afford anyone of the consoles and like anything, then I would go for the PS3.
PS: Also all gen systems will be good in the long run. They will all last for around 10 years. Also the PS3 will get tons of exclusives by christmas (Lair, Warhawk, Heavenly Sword, Ratchet and Clank Future: Tools of Destruction, The Getaway 3, Haze, Afrika, Tekken 6, etc) Also many of these exclusives are new unlike previous exclusives like the Metal Gear Solid series.
Good videos to prove facts:
http://youtube.com/watch?v=nhy9hfgoxci...
http://youtube.com/watch?v=mhp_08hdysw&m...
http://youtube.com/watch?v=wywxddh98qy...
http://youtube.com/watch?v=6xctwrgsbky...
PS3 is the way to go