Well, personally, I'd choose a 360 unlike most people here.
I have both consoles, both attached to the same TV. (
http://www.bestbuy.com/site/Samsung+-+32...Id=9231878)
Also, just for reference, I have the first edition 20GB Xbox 360. The one without the HDMI port and the one with the most overheating/RROD issues. My Xbox has been replaced once, but it took 3 weeks, was completely free, and they gave me a free month of Xbox Live upon it's return to compensate for the time I lost.
I have the 80GB PlayStation3, the one that came out a year before the "slim" PS3.
The PS3 is wired to my TV using HDMI @ 1080P; and the 360 is wired to my TV using Component at 1080P.
I play similar games on both, as some of my RL friends have PS3, and some have 360. One great example is GTA4.
Reasons to get a PS3 (In my opinion)
- Free Multiplayer
- Blu-Ray
- Wi-fi with web browser
- If you're into the Folding@Home thing and helping scientists.
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Reasons to get a 360 (Yet again, in my opinion)
- You want to actually have a good experience on multiplayer with group chat and no sync errors
- You want a console that is made for games rather than other stuff
- Netflix
- Last.FM
- iPod Support to play music through the system while playing
- You want to save 150$ and have cheaper fun
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Now; for the graphics debate. As I said, both are on the same TV with the same games (one even having a lesser quality connection) and I can't tell a damn difference. I've played story modes on GTA4, and downloaded the Burnout Paradise demos on both to try to see a difference...and as many times as I try I can't.
Also, the ability to recover your gamertag and play on your profile when at friend's houses is awesome.
Personally, I also find the 360 controller more comfortable to hold, but that again is a matter of opinion.
Any specific questions about either, feel free to ask.