I've owned both, and I prefer PS3. Exclusive title graphics on PS3 are WAAAAAY better than Xbox exclusive title graphics, and the side-by-side comparison of the same game is also better on PS3. To me, though, the chat quality is equally as crappy on both, so I don't really care.
Also, the PS3 has less exclusive titles, but they're better. :)
How about a console that you actually take the time to fix BEFORE release, rather than trying to monopolize by getting out there a year before the rival console?
Draco416's comments