Well since you eliminated PCs, I'll half agree with you.
Live has the best online service if you are looking to do social networking type things like chat or see what other people are doing and such. The fact that it still has no browser is the silliest thing I've ever heard though.
When it comes to the whole point of an online component for a console, online gaming, Live has almost zero advantage at all. Some will point to cross game chat i guess as a gaming perk, but I'd say that has little to do with playing your game... if/when that comes to the PSN I see it being far more of a bother than a feature. They both mainly utilize p2p connections and consoles as servers, and both have similar lag and connection probelms as a result. PSN actually features more games with dedicated servers, and those give me a whole lot more benefit for gaming than any of Live's social features could.
So I guess Live has "by far the best online function" if we're not talking about games. If we're talking about games I'd say the PSN is around the same ballpark, with each having minor advantages over the other.
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