I doubt PS3 will go the way of the dreamcast - too established already.
It will continue to get a lot of 1st party exclusives, Uncharted, etc. while 360 will see a healthy number of exclusives too.
In the end I'd go with what suits you best and which exclusives you prefer - God of War, GT, Uncharted, etc. vs titles like Gears of War, Alan Wake, etc.
Try to be reasonable... its easier than you think...







