Sony Playstation 3's graphics compared to the XBOX 360, XBOX 360 will be ****. Sony PS3 will have a new technology, where as XBOX 360 wont.
SPECS FOR PS3:
CPU: Cell Processor
PowerPC-base Core @3.2GHz
1 VMX vector unit per core
512KB L2 cache
7 x SPE @3.2GHz
7 x 128b 128 SIMD GPRs
7 x 256KB SRAM for SPE
* 1 of 8 SPEs reserved for edundancy
total floating point performance: 218 GFLOPS
GPU: RSX @550MHz
1.8 TFLOPS floating point performance
Full HD (up to 1080p) x 2 channels
Multi-way programmable parallel floating point shader pipelines
Sound: Dolby 5.1ch, DTS, LPCM, etc. (Cell-base processing)
Memory:
256MB XDR Main RAM @3.2GHz
256MB GDDR3 VRAM @700MHz
System Bandwidth:
Main RAM 25.6GB/s
VRAM: 22.4GB/s
RSX: 20GB/s (write) + 15GB/s (read)
SB: 2.5GB/s (write) + 2.5GB/s (read)
System Floating Point Performance: 2 TFLOPS
Storage: HDD - Detachable 2.5" HDD slot x 1
I/O: USB: Front x 4, Rear x 2 (USB2.0)
Memory Stick: standard/Duo, PRO x 1
SD: standard/mini x 1
CompactFlash: (Type I, II) x 1
Communication: Ethernet - 10BASE-T, 100BASE-TX, 1000BASE-T) x 3 (input x 1 + output x 2)
Wi-Fi: IEEE 802.11 b/g
Bluetooth: Bluetooth 2.0 (EDR)
Controller:
Bluetooth (up to 7)
USB2.0 (wired)
Wi-Fi (PSP)
Network (over IP)
AV Output
Screen size: 480i, 480p, 720p, 1080i, 1080p
HDMI: HDMI out x 2
Analog: AV MULTI OUT x 1
Digital audio DIGITAL OUT (OPTICAL) x 1
Disc media: CD, PlayStation CD-ROM, PlayStation2 CD-ROM, CD-DA, CD-DA (ROM), CD-R,CD-RW, SACD, SACD Hybrid (CD layer), SACD HD, DualDisc, DualDisc (audio side), DualDisc (DVD side), PlayStation2 DVD-ROM, PLAYSTATION3 DVD-ROM, DVD-Video, DVD-ROM, DVD-R, DVD-RW, DVD+R, DVD+RW
Blu-ray Disc: PLAYSTATION3 BD-ROM, BD-Video, BD-ROM, BD-R, BD-RE
article taken from http://www.firingsquad.com/news/newsarticle.asp?searchid=8091
As you can see the xbox doesn't have sdram or many of the features ps3 has, PS3 is the next generation of gaming for the years to come, only basically they are computers now.