i have an xbox 360 and i'm not disappointed at all...they have a great line-up of games and MS will soon launch Xbox LIVE which is 50% of the Xbox 360's appeal.
beiing a PS loyalist (i own PS1 and PS2), I do plan on buying a PS3 as well but atleast not for another year...their current line up of games sucks and the initial systems are bound to have some bugs....ill wait till those are ironed out. also PS3 games (blu-ray discs) will cost a lot more (even if u do somehow manage to get it modded)
visually there is almost no difference between the xbox 360 or PS3
for more info on the xbox 360 u can join our forum
http://www.360indians.com
peace