I don't think it'll ever quite catch up, XBL was just very well-thought out from the beginning.
That said, I personally don't care for much of what XBL offers in addition to what PSN has. Movie and tv show rentals is something I'll never use, it's robbery to charge so much for something you can watch once and bandwidth still isn't high enough to support convenient HD content streaming.
Imo, the only thing I really want from PSN now is web integration equal to xbox.com, being able to check your profile and send messages from a web browser, have actual gamercards that update in real-time. Sony has hinted at something like that last E3 when they showed off Home, mentioning a Home web profile and I would hope Sony would show more of that service at this year's E3.
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