I finally bought an Xbox 360 and it is the best.
When I compare the the Xbox 360 graphics to the PS3, its not even a competition. The Xbox 360 graphics are just amazing, and with the 48 shader pipelines for the GPU (Graphic Processing Unit) and can process high detail and sharp textures. While the PS3 has 24 for one type and 6 for another. The place that is the biggest difference is the CPU (Central Processing Unit.) While the Xbox 360 rocks three 3.06 Ghz cores the PS3 has one core but has a cell feature that the core sends information to, to process the code.
Also the online experience of the Xbox 360 just works really good while the PS3 has some work to do.
One thing that the PS3 has is built in wifi and blue ray capabilities. Because of the blue ray the PS3 has less code and video decompression because a blue ray disc can hold 5X more information, but the Xbox 360 does a really good job of reading the code from the disc. I really wish that the Xbox 360 had built in Wifi but I guess Microsoft just forgot this time around. Also I really hate that Xbox Live costs money, because most of the content associated with Live costs money so why charge for the service.
Over all because I have only had the Xbox 360 for a short time I can't really compare yet but from what I can see now it looks better than the PS3. I also have asked some of my friends that have both the Xbox 360 and the PS3, they all said that they play the Xbox 360 more and that the Xbox 360 is more of a game console. While the PS3 is more of a media center because of the blue ray player.