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leo-j said:
I love that I can play my PC games at 120fps =)

Actually, you can only play PC games at the maximum refresh rate of the monitor.  So, likely, you have 60-75fps at max.  Games will say you are getting higher rates, but this is what is called tearing, and does not actually improve quality, and more frames per second are not actually being displayed.

OT: Xbox Live has the superior community integration, and it is accross the board, in every menu, every game, etc.  Multi-plat games always play better on Xbox Live (ie Call of Duty multiplayer) because Live has better dedicated servers and allows developers to use them, rather than have to host their own servers for the PSN version of multiplayer.  Having up to 8 people in a party chat, always chatting during every part of the game, even loading sections, and not being heard by others is quite the advantage.  Seemless integration with MSN Messenger is a plus.  Netflix is a huge hit, especially HD streams.  From my unbiased experience with both services, XBL is much easier to navigate, easier and smoother when it comes to downloading items, more reliable online play accross all games, and better features like Netflix, video/private chats, photo/video sharing, 8 person party, and more.

PSN is free, so I put up with its flaws and lack of a universal/easy/smooth friends interface, but if paying $40 a year meant that PSN was just as reliable as Xbox Live and had just as many features, I'd pay in a heart beat.  Also, updates and patches for multi-plat titles come to XBL much faster, and with less issues than PSN.