I own both a PS3 and an Xbox 360. If I could only choose one of these then I'd pick the PS3. Why? The vast majority of Japanese RPGs will only be available for the PS3.
As far as technical stuff goes. The PS3 overall has more grunt than the Xbox 360, but their graphics hardware is roughly equal. It's silly to compare the "power" of the consoles at this point though, because xbox 360 development is already at an advanced and mature stage whilst PS3 development is still in its infancy. It will be a long time until we see developers getting the most out of the PS3.
One definite advantage that the PS3 has over the XBOX 360 is storage space. All PS3s come equiped with a HDD as standard, and as a result, developers are allowed to install to them (and make use of them in ways that XBOX 360 developers are not). HDD issues aside, blu-ray obviously offers significantly more storage space than DVD. As yet, I can't think of any games that are taking advantage of these two points, but I am certain that developers will do so in the future.
Here's another advantage: PS3 games are region free. If a game is released in another region earlier than yours then just buy the foreign version - it'll work without the need for dodgy warranty breaking hacks or modifications.
Having said all this, both the Xbox 360 and the PS3 are cracking consoles.
The xbox 360 has a far better controller, by the way.
As far as technical stuff goes. The PS3 overall has more grunt than the Xbox 360, but their graphics hardware is roughly equal. It's silly to compare the "power" of the consoles at this point though, because xbox 360 development is already at an advanced and mature stage whilst PS3 development is still in its infancy. It will be a long time until we see developers getting the most out of the PS3.
One definite advantage that the PS3 has over the XBOX 360 is storage space. All PS3s come equiped with a HDD as standard, and as a result, developers are allowed to install to them (and make use of them in ways that XBOX 360 developers are not). HDD issues aside, blu-ray obviously offers significantly more storage space than DVD. As yet, I can't think of any games that are taking advantage of these two points, but I am certain that developers will do so in the future.
Here's another advantage: PS3 games are region free. If a game is released in another region earlier than yours then just buy the foreign version - it'll work without the need for dodgy warranty breaking hacks or modifications.
Having said all this, both the Xbox 360 and the PS3 are cracking consoles.
The xbox 360 has a far better controller, by the way.