BTW note he said the engine would run slightly better - not that graphics, etc. would be de-facto better.
Sounds to me like he's referring more to the core engine operation, how it uses the architecture, etc. than anything that's going to make much difference in a game unless developers specifically leverage that slight advantage.
I doubt there will be much graphical difference, but would accept that AI/Physics could perhaps be a notch better on PS3 due to computational power vs rendering equality if a developer choses (which for multiplatform games they probably won't).
Not knocking anything here, just saying everyone should relax and really look at his comment in context - even he says you're unlikely to see much if any difference in the end result games.
Try to be reasonable... its easier than you think...
