they both got there pros and cons. you just have to find one that you think has less cons next to them
360 Pros: 1080p, Cheaper then ps3, better online (dedicated servers), replaceable controllers batteries, media extender (i.e can watch movie files from your computer thru the 360 and onto your tv), has a couple of exclusives already that rank over 9.0 on reviews (gears of war, bioshock, soon halo 3), big online community, xbox live marketplace (free demos, old arcade games, movies, tv shows, etc), easy to mod to play burnt games, controllers rumble
360 Cons: Pay to play online, Red Rings of Death (aka xbox failure rates), $100 dollars for the wifi to make your xbox wireless go online, no HD-DVD drive or Blu-Ray drive, blows out hot air and kind of loud (these are the old models and the new ones supposedly are much better in these areas)
Ps3 Pros: 1080p, Blu-Ray Drive, Free WiFi and online gaming, hard drive is standard, motion sensing tech in controllers (which i find gay anyways), their best exclusives are coming out within a year (mgs4, gran turismo 5, ff13, etc), you can buy your own upgraded hard drive and install it in your ps3 (so if you buy the 60 gb ps3 you can put in a 180 gb hard drive)
Ps3 Cons: Price, games that are out now average, the games that are on the 360 and ps3 run much better on the ps3, controllers feel really cheap and no rumble, blu-ray drives in the ps3 load really slow (madden loads really slow on ps3 compared to 360), the console itself is huge and the finish on it makes it get dirty easily, batteries are internally in the controller so if the battery dies out so does the controller
i got a xbox 360 and my friends have a ps3 and i still see no reason to go out and buy a ps3 anytime soon. the bluray is tight but unless you got a 40+ inch HDTV then thats just a afterthought. ps3 might have more games in the next few years that arent on the 360 but right now most of those exclusives are coming out on both systems.