Though it is still up for debate would people really be surprise if it was?  Wouldn't it make sense that the system that comes out later to be more powerful?  How much more powerful is the better question and again it is still up for debate. 

In the end it won't matter a great deal as both systems are fairly capable of doing great things is really up to the developers to harness the power of each system.  Is why typically 1st/2nd party games usually lead the pack for each platform as all the focus and work is just on that one platform. 

So far one of the limitations I seen about the 360 not being able to do something is because of the hardrive space though in the end it is fairly lame one since most 360 owners have a hardrive and those that don't have the option is getting if a game they realy want needs it.  The other is the dvd disk space which having the game cache on the hardrive might take care of that issue but I am not a tech expert so who knows. Other than that there hasn't been that I know off any hardware limitations that has prevented a developer from making a 360 game. 

Again would you really be surprise if the PS3 was more powerful?  Main reason I ask is because it seems people are forever trying to compare and play this I told you so game about which one looks better etc when is really up to the developers and for the most part common sense since one did come out a year later.  I know I didn't buy a 360 because zomg it is or will be more powerful then a PS3 but rather I just fell in love with Saints Row and just had to have it.  Once the PS3 gets a game that I just have to have it will be had just like the Wii when Mario Kart comes out.  Basically is all about the games :)

I thought the PS3 was more powerful.

I thought the 360 was more powerful.

I thought the Wii was the most powerful? In terms of making money it is... :)

Given the vastly different architectures, it's hard to say, really.

My guess is that the PS3 has the overall edge, but not by nearly as much as the hardcore Sony fanbase believes.

Doesn't matter much which one is more powerful in the grand scheme of things, though. System power isn't the primary factor in what system a person buys. It's all about the games.

I thought the Wii was the most powerful... Oh wait, that's only in sales.

Could be the case but I don't believe is that clear cut as of right now.  Basically you have the 1st/dn party developers saying their system of choice is the most powerful with 3rd party typically not getting involved since their games come out on both and want to sell well on both.  It seems games built from the ground up on the PS3 then ported to the 360 like dmc4 and burnout paradise have worked well for both systems.  Now imagine if it was the other way around would the PS3 ports been the second coming of the orange box?  Who knows.  Is it more powerful? By arriving late I would assume so but in terms of the games currently it is up in the air if you ask me.  We should know more as the year goes on maybe even at the next convention in February or E3.

Being that both systems use processors with similar die sizes that were produced using the same process you would expect them to perform in a similar range ...

For the most part, any performance difference we have seen between these two systems has had the PS3 performing worse. I suspect that this is mostly caused by the PS3 being more difficult to develop for, but I would expect that the best the PS3 can ever really hope for is to reverse the perfomance difference over the XBox 360.

I should care, why? Since when in a console generation has the absolute most powerful system mattered to the overall selection and enjoyment of games?

I really don't see why so many people get up in arms with who is or is not pushing the most pixels.

 dye size has nothing to do with overall processor strength.. the PS3 has a stronger processor which can give the PS3 the edge at the end of the day. Its jsut up to developers to actaully learn how to use it for their advantage. There are reasons why there has already been a massive boost in graphics/physics in games between games like Resistance and Uncharted.