Xbox 360 all the way, UNLESS there are certain games that are PS3 exclusives. But, few are now.

Reasons:

1. Better online community. (IMHO)
2. Netflix downloads
3. Controllers are much better.
4. Price
5. Games are equal (Many are actually better on the Xbox)
6. Backward compitable w/ MANY Xbox games
7. Fable II, GOW2, Halo3, so many Xbox 360 only games...

UNLESS, you REALLY want a blu ray player. But, unless you watch action movies, there is not a hell of a lot of difference w/ regular dvd.