I just bought a PS3 and frankly, I'm unimpressed. The Heavenly Sword demo was terribly disappointing and I was even more disappointed once I popped in God of War to do a quick head-to-head on the game. GoW is vastly superior and IMO, loads more fun. Lair is also kinda "meh". It has some strong points but there are a few things that take away from the experience (I'm not sold on the SixAxis controls for the game... hopefully there's an option to use standard controls in the full version of the game).
The PS3 does upscale PS2 games wonderfully (God of War looked brilliant on my TV) and the Blu-Ray player is nice. But if you're looking forward to games, the only game left this year that really has me excited is Uncharted whereas the 360 has BioShock, Halo 3, and Mass Effect coming this year along with some JRPGs such as Blue Dragon and Eternal Sonata.
In short, if you only buy one, I'd go for a 360. The PS3 probably isn't going to excite me until late 2008 and the 360 already has a boatload of games worth playing RIGHT NOW.
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