Wii -- love the wii-mote and it really shows what is possible outside of traditional analog twin sticks. If only the Wii had added slightly more powerful graphic hardware and storage... As it is, I've bought a BUNCH of games for it...
360 -- Huge game library with a bunch of STELLAR titles. Bioshock, Mass Effect, Gears, and SO many more. Tons of games in the bargain bin that are still great games to play. I've still got 20+ titles to buy and play and all I'm doing is falling farther and farther behind so I don't think I'll be left wanting for games on the 360 this generation. Hardware quality is questionable though it has been improved lately. I've not had the RROD but I have had multiple console failures due to failed DVD drives. It really needs a full "slim-line" redesign for the masses. Microsoft needs to quit nickel and dime-ing people to death and add built-in wifi as well as allow third parties to make controllers and such without paying the stiff license fee.
PS3 -- I've only had it a couple of days. Console build quality seems top notch. It screams high tech and high quality. Built-in blu-ray is awesome. I'll be projecting blu-rays onto a 100" diagonal screen using my DLP projector. Thats a win. Free online is a definitely a plus but I don't do online so it's not much benefit for me. The library is still a bit thin, however, so the PS3 isn't going to see nearly as much action until more games arrive. It will get a workout as a karaoke machine (singstar anyone?) and as a blu-ray player. It is also being utilized as a PS2 player as well. Currently playing FF12 on it and have a bunch of PS2 titles ready and waiting. Sony really should start charging a nominal fee for online and beef it up with more content. I'd like to see demos for pretty much every title out there that has one -- especially if it is a multi-plat.
I don't have an overall favorite. They each bring some solid traits to the table and to pick one over the others is leaving a lot on the table. I'm pretty happy that the three are all seeing success since it means continued competition and innovation from all three vendors. I benefit. As I sit here, the PS3 has occupied almost the entire day. Heavenly Sword. Folklore. Echochrome. FFXII. Singstar ad nausem.








