Ummm both have some really good qualities.
PS3 = Bang for your buck. If you care at all about features you can get a 40g hard drive, a blu-ray player with HDMI 1.3, wifi and hardwire from the box, free online play via dedicated servers (which massively reduce lag), slew of fantastic exclusive games via full retail or PSN, and amazing media capabilities (picture viewer, amazing dvd upscaling, internet browser, mp3 playback w/playlists ect ect.)
360 = It's got the games now, should you be willing to pay for it you can have access to a pretty robust online experience including digital downloads for music and movies. It's got a pretty low entry fee, and if your looking for a basic entry to an HD experience it's a pretty good console. Very full fledged library of high rated games ranging in just about every genre.
My only personal say in the issue is that just watch the cost of the Xbox live gold membership, paying $60 a year to play online will very quickly push you past what you'd pay for a $399 Playstation 3. And yes you will be much more likely to find hardware failure with the 360. But the 360 does currently have the higher rated library and is cheaper if you don't need to play online for 2 years lol.
From 0 to KICKASS in .stupid seconds.
