First off, I own a 360 and probably will not be buying a PS3 but maybe a Wii down the road. I am not going to spew some fanboy rhetoric here...just wanted to give my opinion in its own thread since all the other comparison threads have been tainted by people with lack of unbiased perspective.
As for the PS3 vs 360 debate:
From all benchmark and comparison tests the two systems have practically the same graphical and processing power. The cell processor in the PS3 is more efficient that the GPU in the 360...but the larger video memory in the 360 make that ground up for performance. So let's just throw out which system is more powerful right now.
For me it comes down to the features. I don't really want to buy into a Blu-ray player at this stage in time and I don't think I will get the HD-DVD add-on for the 360 either since I know that almost all first gen media players are terrible and have long load times. (Although the HD-DVD drive clocked in at 10 secs load time compared to 40 secs for the BR player in the PS3 for movies). I prefer the 360 controllers since I play alot of shooter games and it just feels more comfortable than the PS controllers that they didn't bother to upgrade...but some like the PS style controllers, to each his own. PS3 has HDMI and the 360 does not (for now), which to me is a big thing since most high-end HDTVs support 1080p via HDMI only.
But after all the spec talk, it comes down to what games you prefer to play. If you like RPGs, platformers and adventure based games...get a PS3. If you like shooters (especially FPS) then get a 360. It really only comes down to the games because a 360+HD-DVD drive is the same price as a 60 GB PS3. Oh and from early reports, Xbox Live will be better than Sony online, but not by much.
As for the Wii:
To me this is a secondary console to one of the big two. Since I have seen how pretty Gears of War looks on my 360 I don't think I could go back to having a console that outputs at 480p max with lesser graphics as my main console. The Wii-mote looks fun, but from early accounts I have heard that the Wii-mote loses its novelty after an hour or two and the Wii-mote is pretty bad for FPS games when close combat takes place.
The Wii will no doubt sell well and has alot going for it with the new controller, but don't you people believe that the people that fall in love with it will be the non-gamer types? How many gamers that are veterns of Halo or MGS are going to adopt this new controller interface...my guess is not many.
I be that the Wii will be great for party games and for games that you want to play with people that aren't gamers per se. I really do shudder at the thought of a game like Halo using the Wii-mote...just seems clunky.

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