Im considering your cashflow situation here, I say go for maximum value. Im assuming you need an HDMI cable for the PS3, if not you obviously don't need blu ray! xD
(Not Elite, because you want the best value possible right)
Xbox360 Pro 20/60 (Depends on patience): $300 (Drop)
Xbox Live gold $40-50 (online cheaper)
$340-50: Leaves about $250-60 for 8 awesome used games.
Also comes with headset so you can chat online with him.
Furthermore comes with more awesome online shooters currently which seems like what you want.
If you absolutely have to have an Elite at the price drop - its $440-450 but comes with an HDMI cable, so in direct dollar terms its about $30 more expensive than the PS3.
PS3 40gb/80 $400
HDMI cable $20
$420 Leaves $180 for games - 5 awesome games (used ones.)
No wireless headset so no chatting, but does come with Blu Ray (Disks cost more/less selection, remember that if you're cash strapped)
Big question: Will you find more friends to play with on either system? If you're keen on multiplayer online shooters you'd want to play with your friends, that would be my #1 issue. Get what your friends have so you can share games and play online together!
Tease.
