What a painful thread. My only addition. From my understanding is the PS3 has a slight edge in overall power, but the 360 has a huge edge in ability to harness the power.
PS3 takes more time and effort to get at the power it provides so only AAA 1st party games are going to take the time and effort to achieve it. Remember time and effort can also be described as money. More time and more effort requires more money. So a developer building for both will end up with a more polished game on the 360 than the PS3 version for the same cost. This isnt lazy devs this is business.
From a programmers point of view (I am one) the PS3 architecture would be a royal pain in the arse. Multithreaded parallel programming is the most difficult type of programming that can be done. Making it so that the instruction set is different across the SPUs from the main CPU just makes it worse.
Its libraries that sell systems not a single game.
