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I think the PS3 has more theoretical power but its so bloody hard to tap that we will only ever see the power come out in very very few games - MGS4 and FFXIII for example.
No cross platform game will ever show a huge difference between the PS3 and the 360 as it simply will not be worth the cost to a developer to properly optimize it for the PS3.

Maybe five games in the entire generation will show that the PS3 is more powerful than the 360, otherwise they will spend the entire generation being same same.