At this point, AAA is far more about sales than it is about quality. Both consoles will not be lacking for quality titles, but they each need marquee names that will draw in the last-gen fence sitters - especially Microsoft as most of their target audience is made up of PS2 owners who would be predisposed to get a PS3 if not for the current price.
On the PS3 list, GT5, MGS4, TK6, and FF13 certainly fit the "AAA" bill as far as marketing goes.
With the 360, the only one that immediately grabs you is Halo Wars, and even that is a risk because it is not a FPS. Moreover, most of those titles - Halo, Fable, Viva Pinata, GoW, Forza - have an XBox fanbase, and thus will mean little to those PS2 owners the 360 needs to attract.
I said last year that MS needed to bury Sony before 2008. This is preciselythe reason why. Unless MS has some magic up it's sleeves, the PS3 is very likely going to outsell the 360 this calendar year on the strength of that lineup.
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