I cosign with everyone saying it boils down to games. I wanted a PS3 but played the Call of Duty 2 demo on a kiosk and had to have a 360. I waited for the second batch of 360s to come out - like March, April - and bought one. I picked up a Wii a few months ago and love both, though I still game more on my 360 - my wife, a nongamer, loves the Wii.
I wouldn't get a PS3 until it hits $300 AND has some killer titles. I think Resistance and Motor Storm look good, but I would rather wait it out for some sweet exclusives. Right now, I am more impressed with the 360 lineup and I love Live (you can buy a Live subscription off eBay for just $30 - barely $3 a month).
I would definitely recommend snagging a 360 bundle over the holidays. I'll just sit and wait for someone to sell the bundle titles on eBay or craigslist.
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