if you're into online gaming at all, you have to ask yourself if the higher price for the 360 is worth the extra features of the online service compared to Sony's. If you're a casual online player, the PS3 seems more worth it. Even if you're really into online, the PS3 may still be more worth it because their online service is improving every day and Resistance proves that the current setup is pretty solid to begin with. On top of that, the $600 model has built in WiFi, which is highly convenient, and is still cheaper than an XBOX premium with 5 years of Live. And think of the Blu-Ray player as cake. The other thing you have to think about is obviously the exclusives, which might be the most important thing.
My Top 5:
Shadow of the Colossus, Metal Gear Solid 3, Shenmue, Skies of Arcadia, Chrono Trigger
My 2 nex-gen systems: PS3 
and Wii 
Prediction Aug '08: We see the PSP2 released fall '09. Graphically, it's basically the same as the current system. UMD drive ditched and replaced by 4-8gb on board flash memory. Other upgrades: 2nd analog nub, touchscreen, blutooth, motion sensor. Design: Flip-style or slider. Size: Think Iphone. Cost: $199. Will be profitable on day 1.
