For me PS3 is greater than 360 but has nothing to do with games. By now it is perfectly clear to anyone but the biggest fanboys that 360 is capable of the same games as PS3 whether or not it means using multiple discs (which Playstation fanboys didn't seem to have a problem with last gen). Reasons why it is greater for me are:

1. You can swap the internal HD for any 500gb hard drive while 360 forces you to get an expensive 360 hard drive;

2. You can attach any external hard drive using the USB port;

3. It has a blu ray player (in no way better than a HD DVD player but the format had no chance of survival without it being standard in 360);

4. It can play AVCHD files which is the format all flash HD camcorders record in.

Reasons 1 and 4 are the reason I am going to be getting a PS3 even though I hate Sony.

Hardware reliability, built in Wi-Fi and a free online service.

The 360 has its plusses too.

The extensive multimedia support was what sold me on the platform. I currently have all my music, photos, and video's stored on my 320GB PS3. And the standardised extras is a another big plus, like normal hard drivers, normal mouse and keyboard and normal bluetooth headsets. Everytime I see the pricing on Microsoft accessories I wonder what how people have managed to get themselves locked in like that.

Blu Ray

Cell I discount as although it is undoubtedly powerful after 3 years Dev time it still can only match the older but more traditional architecture in the 360.

Removable Hard Drive - minor plus but I agree its nice to have.

So BluRay is the one true competitive advantage but I dont think its going to be enough. If you are not both a High Def movie and gaming addict then the PS3 looses near 100 percent of any competitive advantage.

I know why Sony chose to put the Blu Ray in and Im sure it made great commercial sense at the time but they have unfortunately placed their product firmly in the luxury and or niche product category at the same time.

This is further compounded by the worldwide economic contraction and on this point I do feel sorry for Sony. They have hit the world with a wallet busting product when the wallets are already busted.

Without a major price cut I cant see any short term recovery for PS3. I dont know how deep Sony's pockets are but I cant see them riding out a probable 4 year world recession in any kind of comfort.

Not the sales obviously ...

the opinions

Wireless built in. £60 for wireless is a ripoff.

I am ok with a little fanboy but greatest console ever made?  COme on, you are saying its better the Atari2600 SNES, SNES and PS1 and PS2.  All the consoles mentioned DOMINATED there generation and came out with some games that are in the hall of fame.  Not to put a damper on your party the PS3 is LAST this generation the greatest of all time the PS3 will not go down as

Despite everyone mocking it as a failure, and saying MS has the upper hand on Sony, the PS3 has sold more units in its first 2 years than the 360 did. So sales DO make PS3 better than 360.

I can't say anything about quality, cos mine's in the shop being repaired right now. :(  For me, it's all about the first-party games; Naughty Dog, Insomniac, Team Ico, LBP, God of War, Disgaea. Halo is the only Xbox-exclusive franchise that's ever grabbed me, and it can't compete against all that gaming goodness.

I like the couple of "universal" things about the PS3: universal power supply (just grab appropriate computer cable), region free games, easy importing.
I haven't used it as a BR player much, wireless built in is nice to have.

Easily swappable hdd although in order for it to turn into my main platform for keeping my video/music on it, it would need a whole lot more in support for various formats and codecs.

Reliability.