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Right now this is very much a luxury car vs standard car argument; XBOX Live has some very useful bells and whistles that PSN does not. But for the standard feature of driving (or in this case, playing on-line) PSN is the equivalent and free.

I think the bells and whistles for Live are more than worth the money I pay, but that's a personal opinion.

That being said, I'm sure Sony is dedicated to making their service the premiere on-line service - I don't know that they'll ever be able to pass XBOX Live, but I'm sure they will continue to try.