US- Xbox 360 wins no doubt.
EU- Slight advantage for PS3
Japan- Now this is the key player this holiday season.
But honestly, I don't care much about Japan. Why? well they have games of their own that are not interesting for me and are not released in the other two regions. I guess there's a big difference between Japanese and NA players. If PS3 wins Japan and Xbox 360 wins the NA market, RPGs will flood PS3 and FPS/multiplayer games will flood Xbox 360. Which will be good for me since I'm more of a multiplayer person and I've got a 360. ;)
Why can't Microsoft and Sony just sign a truce and Xbox 360 gets most of the FPS exclusives and PS3 gets RPG exclusives?
Before you guys start flaming me for this, this is just my opinion and it might not be applicable to you. First post for me BTW ;)
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