I will just post a portion of my (rant) from the "so called" article/rumor on what I think the reasoning behind the cut content reflected below:
"Extra content was considered too linear or polluted the storyline and removal was the best alternative to dragging out boring and/or unneeded side content."
This happens in games, movies, ect....all the time. In fans eyes, however, it translates into something negative (for some crazy reason).
OT: I do not know what version I will be picking up. I went with 360 in the vote because it is my preferred console (and it goes against the grain here), however, I will most likely wait to see how it runs on both systems before I make my choice.
My PS3 library is substantially smaller than my 360 one, so I may just go with PS3 to increase my game total on my PS3.