I own both, and IMO PS3 is by far the more useful and user friendly system of the 2. The must have games gap is starting to narrow, and the multitude of features that the PS3 has, including MP3 player, USB device compatability, Internet, full video playback, and Blu Ray make it the winner in my book. And with Linux installed, its just like having a shuttle style computer attached to my big screen. The only thing the 360 has over it is Live, which puts the PS3 gamers network (or lack there of) to shame.
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