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It really depends on which game genre you enjoy the most.  That aside, the Playstation 3 is a better buy.  Although currently overpriced, its value will show itself in 18-24 months.  As a 360 owner, I must say that I do love the system.  It however, does not have as much of a futureproof foundation like that of the PS3.  The 360 is more than I need as is the PS3.  Truly, let us know your preferences. 

On another note, Blu-Ray IS a big deal.  Go to your local eletronics retailer and have them put in the DVD vs Blu-Ray comparison video.  The results are awakening.  Also, if you have an HDTV, HDMI cables are available for $6 on sites like monoprice.com and other areas. 



I have stong opinions. Slanted they may be. Uninformed they are not