I have a playstation, 2 xbox's, a ps2, the xbox 360, and the ps3 60GB version along with three computers. I have 2 xbox's because the first one died on me after about a year and a half. On the vs war they were right above that people that are long time fans of a brand will always pump up their console. I am an impartial person though because I don't care who would win if a winner was actually a possibility. But as stated this is a war and there are no winners in any war. But I digress.....
There are perks to whatever system you choose so it all comes down to what you are really looking for. For me I am a huge fan of backwards compatibility, so the ps3 60GB was a no brainer for me. It has played every ps2 and ps game I have. The xbox 360 played all but 5 of my games, so not bad, but I did have to download the update to play xbox games on my computer and burn it to disc and install it on my xbox 360 for it to work. (I refuse to pay to play online! Worst concept EVER!!) Which brings me to the next major factor in why I lean towards the PS3. Everything, except for downloading full games, on PS3 is free! That's the way it should be. I have downloaded and played about 35 demos and never paid a cent for it on the PS3. My friends and I play our games together, chat, and never have to pay a cent! VERY NICE!! Not so with the xbox 360. However to note that if you don't have a problem paying a monthly fee to play online you will find a lot larger community playing on line with the 360 due to higher sales of xbox 360's and a lot of people that obviously have more money than they know what to do with.
The graphics are better on the PS3 than the xbox 360 on a side by side setup, but as noted by others before my post, unless you have them side by side you're not going to notice a difference. The biggest graphics difference I've noted is in GTAIV where the 360 has a lot of pop in with trees, etc. where the PS3 doesn't.
Someone noted in an earlier post that the PS3 was harder to play than the 360. I would really like them to elaborate on that because I have not had any trouble with either and can only imagine they are referring to the shape of the controllers. If this is the case I do agree that the 360 has a better designed controller ergonomically for men, but my wife prefers the PS3 controllers because the 360 controllers are a little too big for her. (Not as bad as the original xbox controllers though.) As far as gameplay though I have no idea how one console could be harder than another.
The one area where I believe the 360 shines is the user interface. I enjoy the 360's menus far more than the PS3's. Although you can get lost in the 360's menus at times they put a lot more effort and thought into the user interface than PS3. While simple, the PS3's menus are boring and unimaginative and can still cause some frustration when trying to find what you're looking for. There's nothing wrong with it, but seriously... for the price difference... they really should have spent more time in this area since it's the first thing customers see and would have the biggest impact.
As far as failures I have had my 360 lock up on me about 10 times over the last 6 months or so while playing games and I have not had any issues with the PS3. Both are well ventilated, so it should not be an over heating issue. (Although to note, my son put a crayon about 4 inches behind the vent on the 360 and it was a soft mound after about an hour of playing, so make sure you give both consoles plenty of room to breath. With the lock up errors on the 360 and my first xbox dieing on me I would lean towards the PS3 for stability.
The blue ray player sends the ps3 over the top for me since I love the in movie menu's etc, and they can hold far more information for games than the 360. However if you do not plan on updating your movie collection to blue ray, this may not be as big as a selling point.
I mirror the previous statement on exclusive titles too. Each has their own and of course they're good titles or it wouldn't be worth making them exclusive. You should never decide which console to buy based soley on an exclusive title for that console. Eventually it'll be ported to the computer and you're all good anyways.
I guess in a nutshell I would say to go with the PS3 if you have the extra $100, it's well worth it. If not go with the xbox 360 and have fun playing single player, but if you want to play online you will surpass the extra $100 quickly and be continually dumping money into playing the 360 and have nothing to show for it. Not to mention everything is extra for the 360, so by the time you get all the things the PS3 comes with like wireless networking, etc you will be right up there with the price of the PS3, but without the blue ray player.
One more selling point for the PS3 I REALLY enjoy over the xbox 360.... BLUETOOTH!!!