If you want it for playing games (which should be the main reason for buying a games console) then buy a 360. If you want something to look good & collect dust then buy a PS3 (that’s what mine is mainly doing at the moment).
Everyone keeps saying that loads of PS3 games will be coming out next year but the fact is the 360 already has hundreds of quality games! Live the now instead of living in hope that 2008 will be the year for the PS3. I personally think that Sony have made a massive balls up and are really going to struggle to catch the 360. They've already had to scrap the 60gig one and make a smaller & cheaper one because nobody was buying them They’re also bringing out a slimline PS3 to hopefully increase sales. If you’ve got your heart set on a PS3 then now is definitely not the time to buy one.
Apart from Gran Turismo, Metal Gear Solid, and Final fantasy I can't see any advantage over a 360. Don't forget that the 360 has lots of awesome xbox only titles as well. Gears of war, Halo 3, Fable 2 etc... If games are cross platform then I buy them for the 360 because they're cheaper & i can play my friends on xbox live. Like i said earlier, if the new PS3 games aren't amazing then i'll be selling up, and they're really going to struggle to beat games like Gears of war, halo 3, Project Gotham 4, forza 2 etc.... Good luck Sony! I’ve got my fingers crossed!