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Buy a PS3 if you want to play a few good exclusives out this year: MGS4, Resistance 2 and GT5. PS3 primary function is to play Blu Ray Discs and browse the internet.
Buy a X360 if you want to play the best games available and the better multiplatform titles. Only drawback is the Red Ring of Death that results in a 16% failure rate on hardware, but there is now a three year warranty.
The choice is yours.