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Some data on gross (say, USD) spent on PS3s vs gross (USD) spent on the X360 would be fascinating, and go a long way toward resolving this "perceived value" thing.

Do we have SKU-specific data?

Also, as a related issue, no SKU of the PS3 is selling at a loss, but I believe the X360 Arcade may be.  The price to manufacture a PS3 has come down dramatically -- for the same reasons Blu-Ray players have.  Although Sony is not leading in marketshare (yet), I would bet that their monthly income from hardware is on par, or better than MS's lately -- a bold statement without a source to back me up, I know, but an awful lot of related market information leads me to believe that this is probably the case.