The PS3 has the ability to be better in terms of graphics but it is not the case, at least yet.
I own the Wii, 360 and HAD the PS3. They advertised that it was full HD as in 1080p. The truth is that only 10% of the games are actually made in 1080p. So, basically it is false advertising. It has the ability but developers are not using it.
Check out the new reveiw on
www.ign.com for Assassin's Creed, head to head. The 360 actually has better graphics!
Now, don't get me wrong, I believe the PS3 will eventually look better. However, I will trade the slightly better graphics for the absolutely superior user interface and internet community. The PS3's online interface is hard to read and not very user friendly. I guess you get what you pay for! 360's Live costs $50/yr. and PS3's is free. Lastly, the game exclusives are much better on the 360.
Buyer beware! Be careful in buying one of the new PS3's. Some of them do not have the same specs as the originals. Just check any forum on video games for the specifics of the differences. I would buy a system for its games and not let the hd dvd vs. blu ray determine my purchase at all. Who knows which one will be the next beta?