Thanks for being sensible JDawg. I was afraid when I saw the title that this place would be packed with fanboys. Personally, I've got a PS3. Let me explain why- the PS3 and 360 both have a large variety of games. In my personal and honest opinion, I believe that the exclusives available for PS3 outweigh those for 360 which I've heard are mostly over-hyped with a few exceptions. The blu-ray is a great deal since it, by itself, is over 300$, and you can get a 40g for 400$. The online mode available for the PS3 is amazing because it's not just there to play games, it's a whole entertainment system. You can store videos, pictures, music, applications, use the internet to your whim, visit the PS store, watch DVD and blu-ray, and the list goes on and on. It's as much of a family device as the Wii is. The graphics are also amazing, and while the 360 graphics come close, there are very visible and notable differences between the two. In addition, it gets a lot of free features that you'd have to pay for on the 360.
Now, if you spend hordes of time playing online, the 360 might be a better choice because Live has been around longer so the community is larger and has gotten better over time with suggestions. If you spend maybe an hour or two playing online a day, get the PS3.
Oh, and the red ring of death is like an epidemic in 360's...
Anyways, it really depends on opinion. There's no scientifically superior console because 'fun' can't be measured quantitatively.
@killa: That's a horrible argument. There are loads of people who play PS3 online. Keep your crappy Halo and GoW (And by the way, Halo 3 IS crappy. Without online it would be one of the worst games of the year)- We'll be playing 30-on-30 matches over in Resistance 2 and sharing our maps in LittleBigPlanet.