At the moment the graphics are pretty much the same when it comes to mulit-platform titles. The hardware in both machines are pretty close when it comes to the numbers. The only real big difference with the hardware is their CPU's. The PS3 has the Cell cpu which is acutally a new take on an old 70's CPU design, where as the 360 has the Xenon a more traditional 3-core CPU. I honestly think the graphics are gonna be fairly close, the PS3 might be a bit ahead but not enough to justify the price.
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