After page 6 I gave up on reading the same stuff over and over. So I am sorry if I say something said before, but hey, wth, let me give my 2 cents worth.
With the release of the PS3 slim at the same price of the xbox 360 Elite. It is a slightly different ball game to a year ago. The PS3(120g) slim released in South Africa cheaper than the PS3 current price :s Upset almost every 80g PS3 owner here.
That put aside, plain and simple, the xbox 360 is more for serious gamers.
I think the controller is far more ergonomical to that of the PS3(which hasn't changed much since the PS). You can use a standard USB keyboard on the xbox 360, never tried a mouse. The xbox 360 controlls are compatible with PC(either via the wirless USB reciever or the wired controllers just plug straight in).
Yes the xbox360 is a far more restricted console to the PS3. You have very restricted access to the hard drive, you can only stream media to it over a network as standard. I recomend just getting a decent size external hdd. and put all your media on it. I do preffer the xbox 360 interface and the ability to get to almost anything from anywhere with the xbox button and the blades. The fact that Microsoft doesn't want us to be able to browse the net from the console sucks.
The ring of death on the xbox is supposed to be a thing of the past, but I would still recomend getting a 3 fan intercooler and leave the fans running when ever the console is on.
Looking at exclusive titles, then you are pretty much stuck with what ever platform they are for. But Final Fantasy XI & XII are both avalible on the xbox 360.
The PS3 is more of a all round home media player than the xbox is. Thats because Microsoft still wants you to buy windows media center :s Which is about the only thing the xbox interfaces with(that and WMP11).
If you bring the Wii into the picture, then the console itself is really nasty and not even in the same class. It gains big points though for its playability and as Nintendo have always done in the past, they have shown how outdated hardware can still get a foot in the door.
I went with a xbox 360 arcade(got a 512mb memory card with it), a 20gig hdd., Nyko intercooler, 2 white controllers, 1 black elite controller, 1 steering wheel.
If xbox gets the Natal motion thing right, then that would tottaly nullify the Wii. In the youtube video it shows a xbox 360 pro in the TV unit
They all doing this funny holding the air steering wheel thing :s The Wii steering wheels are the hardest thing to controll, I end up holding the thing at funny angles all over the place. My xbox 360 steering wheel is a much easier to controll, even though the feedback can snatch the thing out your hands.
The thing that Natal would have over the Wii, is that you could hold a plate or even a real momo steering wheel
Grab your 9mm gun, empty the clip and shoot at the screen
Forget that silly little plastic tennis racket, use your own real one or even your golf clubs.
Edit:
After seeing Meet Milo, my jaw hit the ground ->
http://www.youtube.com/watch?v=HluWsMlfj68&NR=1