Europe is not up for grabs, 360 after price cut and Halo got smashed in sales once PS3 got a cut. Ps3 will destroy the 360 in Europe once it gets a killer aaa game, and that could be as soon as Uncharted in a few weeks.
Before the cuts and Halo, the 360 at half price and some killer games was selling the same as PS3. Think about it for a bit.
360 had a chance with the early release, but they blew it with hardware shortages and awful hardware quality.