The content of both conferences is questionable (I'm not very interested in most of what either had to show), but I definitely found Microsoft's more entertaining.
Although the Kinect games might end up being pretty dull to play, it was fun to watch all the different uses they had for the device. The ESPN bit was interesting, and in general, they just kept the show moving. In fact, I found MS' first 30 minutes, especially the CoD portion, to be the most boring part of the conference.
Sony's conference had a few things that interested me - Sorcery, Gabe Newell (that was pretty funny), and some of the PSP montage (Japanese games!). Unfortunately, this was surrounded by tons of boring crap, from Jack Tretton's seemingly endless speeches, Kevin Butler's monologue (I really hate this guy), 10 minutes on golf, and the closing with Twisted Metal, which spent way too much time on some odd game mode.
