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BOTH consoles have the same amount of games
BOTH have same graphics on HD
BOTH in the long run cost the same (If you pay for Live forever it adds up to the PS3)

PS3 has Blu-ray
Xbox 360 has DVD

PS3 = free online
Xbox 360 = Not free online

PS3 = Home
Xbox 360 = XLE (Xbox Live Experience)

PS3 = Playstation Store
Xbox 360 = Xbox Live Marketplace

PS3 = silent
Xbox 360 = Hoover

PS3 Models include: 80GB + 160 GB
Xbox 360 Models include: 256MB + 60GB + 120GB

Hardware Compatibilites:
PS3 = PSP- Able to use as a controller also able to play games via PSP anywhere in the world using the PSP
Xbox 360 = N/A

Popular Technical Faults:
PS3 = N/A
Xbox 360 = RROD (Red Ring of Death)

Console Currency:
PS3 = Money (e.g £s, $,s etc)
Xbox 360 = Microsoft Points