PS3 will be fully backwards compatable (all the way back to PSone games), and will have blu-ray technology (a high density DVD format). The xbox 360 will only play certain games from the original xbox, and thats via hard disc.
But by the time the PS3 comes out the xbox 360 will have dropped in price and will have a larger number of games avalible than the PS3 is likely to have at launch (remember backwards compatability though).
Its all down to personal choice. I'd recommend that you go into the likes of Game, HMV etc to have a play of the 360. If you can wait that long it may be worth you waiting for the PS3 to lauch so that you can test them both...
id get a 360,and a revolution i think sony have really dropped the ball with the ps3/delux george foreman hybrid i dont see how there gunna do every thing they reckon their gunna with it---and the ps2 online is hardly an advert for there new online service and i really dont see the point of blu ray how many game manifacturers acctually use the full capacity of the media used now so whats the point of having a disc capable of holding 50 gig other than to push the price of games /the machine up further-christ ms are still using dvd and those buggers are still 50 notes,sony are famous for over pricing things as it is,now they have a reason to charge a fortune,
i think i'll go with xbox 360 because i was so pleased with the first xbox ,and they make alot of rgp games which i like and has people say time the ps3 comes out the xbox will be down in price and they will alot of games out
i would go for the 360 now as someone managed to boot a "copy" disc from the 360 but only from origananal source via a swap method (like getting lemmings to work from orig lemmings dvd swapping it over) then if you get sick of it get rid and buy ps3 but by then someone might have brought out a full exploit or modchip for the 360
the xbox360 is ok...... never was a fan of them. i would never spend the money on one, but with a very small amount of effort i managed to get a free one. so i was well happy with it. im addicted to oblivion now.
but im saving my money for the ps3....... no matter how long it takes to come out....... it will be a better alround system than the xbox360