I heavily advise waiting for the price cut and get the XBox 360.
Xbox 360 has better exclusives than PS3, and what isn't first party will be almost always end up on both platforms anyway. Now that you have the choice to install games onto your XBox 360 harddrive, the more storage space for blue ray point is mute.
If you care more about blue ray movies get a PS3 (which is costly and since it seems that price is a concern I doubt this is they way you want to go).
If you care more about games get a Xbox 360.







