[ShadowMarth]

Well, I'd definately say 360 between the two. I'd bet the PS3 will either be way expensive, or not half as good as they say (and since they promised photorealistic graphics, and not even their pre-rendered "tech demos" could do that, it's not happening), the Xbox is probably the way to go. Not only that, but the 360 is coming out earlier, likely cheaper, it'll be easier to program for by far, and it comes with a crappy, but nonetheless useful version of xbox live. The game lineup may not be altogether amazing, but it certainly has some gems, if not on launch.

Edit: Of course, they've still got that god-awful hard drive issue, but assuming you get the more expensive you'll be perfectly fine.