My vote goes to PS3
I hesitated to buy it for the first 1.5-2 years waiting for better games and the price to come down but then finally gave in and bought it few months ago; it's easily the best system on the market.
Even though I can buy games for Xbox for 5$ each (or just burn them myself heh), I'm a very happy PS3 fan. Wii was fun for awhile (also cuz all games for it here are 4-5$) but got boring fairly quick and PS3 already has similar motion controlled games like High Velocity Bowling, which is damn accurate!
PS3 Pros:
- Blue-Ray player
- Much more powerful hardware (and no failure issues like Xbox frequently has had by many users)
- 09/10 has a lot of very high-quality looking Exclusive titles coming out
- I like the controllers better (personal preference and the fact they use no batteries is sweet)
- Running Linux on PS3 is a lot better experience than Linux on Xbox.
- PSN is completely free; Xbox Live charges
- PS3/PSP interaction (remote play, etc...)
- Media streaming and internet connection is pretty flawless on PS3 - not so on Xbox (or Wii for that matter - I live in CR where internet is shitty, so makes a big difference)
Xbox 360 Pros:
- Can play cheap copied games
- Has more people online in Xbox Live community
- Has wider game selection (though I don't know of very many exclusive Xbox games that are very good...most suck or are repetitive FPS versions of each other)