The xbox 360 is about to be blitzed with so many good games. Assassin's Creed (yes, it's coming out on ps3, too), Mass Effect (xbox exclusive), Call of Duty 4 (cross platform). As much as I hate to say it, Microsoft really did well with the xbox 360. The only reason I'd not get a 360 is if you are a hard-core PC gamer. Many 360 games are co-developed for the PC as well, since they are basically the same. The ps3 really shot itself in the foot with how difficult/weird it is to develop for.
The wii is a great party machine with some great games as well. Mario is coming, zelda, metroid, resident evil.
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