Here's my take on the whole situation with the PS3 and the Xbox 360:

The Xbox 360's timing is perfect. With the exception of the "basic" package, which is most likely going to be bought for little Tom whose parents don't understand why they should get the full package, I think that the Xbox 360 has got the sweet spot in gaming. It's got enough features to make it a "next-gen" console, while it doesn't go all out to keep the price attractive.

The Playstation 3 on the other hand, is totally future-proofed. Almost too much. They have Blu-ray. Incredible processor and graphics. Even a controller with Wii-like features to it. Sony won't have to be worrying about upgrading this console for a while. However, all these features come at a price.

If I were buying a console right now, I would probably buy the Xbox 360. I've played on one before, and it's really fun. However, if I were buying later, I'd probably wait for the PS3's price to come down, as it will probably win in the future.