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I felt that the colors on the PS3 version looked better, i guess thats just me.

The PS3 version apparently gets massive frame rate drops when theres alot of on screen action. The 360 gets a nice screen tearing and its annoying as hell. PS3's matchmaking is also alot faster than Lives matchmaking (Capcom is going the road of Gears 2 matchmaking >.>).

Due to my brother having 360 only, im gettin it on 360. If screen tearing and and matchmaking problems are still there, i just won't get the game.