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The main issue for me is you can now get an Xbox 360 and stand alone Blu-Ray player for roughly the same price as a new 80 GB PS3. Again, the only real question is which exclusive titles do you want.
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Someone already covered the price aspect of buying a PS3 vs. getting a 360 and stand alone Blu-Ray player, so I won't repeat that; but I will add something to it. The stand-alone Blu-Ray players do not allow for firmware updates whereas, the PS3 does have the ability to receive firmware updates. That may not seem like a major factor, but as the format is improved, firmware will need to be updated, however infrequently that may be. I have had a PS3 for almost a year and haven't regretted buying it at all.