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The debate between the two systems has gotten out of hand. Spamming and obscene messages across gaming sites, social networking sites, bogging sites (you name it), in the name of one console or the other is almost unavoidable. The fact of the matter is that both the PS3 and the Xbox 360 are impressive. Graphics, loading speed, sound, data size.. all of these aspects have been improved on immensely in the recent generational jumps from one console to the next.
That's not to say THIS generation isn't without it's downsides.
Xbox Live! still requires a fee to play on-line, but it's relatively low and to owners of the system it seems to be worth it (over 8 million users). And while the Playstation network is free, it hasn't caught up with Xbox Live! in terms of convenience and options.
I'm don't know how the CPU's and graphics processors compare specifically, but there is fantastic looking games on both systems and neither seems to be far ahead or behind the other. Xbox 360 boasts a lot more titles, though some have been ported to the PS3 with so-so results. Most of these ports don't run as well on the PS3 which could be because the Xbox 360 has better processors. But it's most likely that the games don't perform as well on the PS3 because they were originally optimized for the Xbox 360 from the ground up.
Price is also a concern, but not a big one. The top of the line 360's go for the same price as a PS3 and anyone who could duke out $350 for an Xbox 360 could probably afford $50 more for the PS3. This happened only recently though. Sony did have the PS3 starting at $599, because of which it got a lot of criticism. But, after polishing it's business model a little, it should be back on track to compete this holiday season.
Both systems have a multitude of features beyond game, including video, social networking, and digital goodies to download and enhance your personal experience. Although you'll have to look at what Xbox Live! and Playstation Network offer on their official websites to decide which is right for you.
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