Right now and for the next few years, the 360 wins.
As for 3 years and further, that really depends if the PS3 sells better than it has been, which has been quite disappointing.
And to clarify a few points.
- Out of box, the PS3 has better Multimedia functionality. But the 360 has better multimedia functionality when hooked up to a Media Center based PC. Vista has Media Center built in, thus streaming your media from your computer, where it's stored is very easy.
- Hardware wise, I think it a mixed bag. PS3 potentially has the stronger CPU in the Cell, but the 360 has the better graphics card.
- Online, there is no comparision, Xbox Live kicks Sony's online option to the curb. Even with Home, it won't help Sony's cluttered and non-unified service. Only thing going for Sony's online is that it is free, but you get what you pay for.
-BluRay, this is the single biggest reason why Sony is losing the console war right now, it makes the PS3 expensive, thus keeping it out of mainstream casuals. Other than that, having a HD movie player and more storage for games is a plus. But what people don't know, is that playing HD movies on your gaming console adds wear and tear on the machine, reducing it's life. And the BluRay on the PS3 is already out of date, it doesn't play picture in picture java applets, thus your not getting many of the cool features from BluRay.
Either way, both consoles will do realitively well, that is if the PS3 sells better than it has been.
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