I hate fan-boyism shit so I'll just give my fair opinions and get the heck out of here.
XBox 360 - Pros:
- First a foremost: Red ring of death is bullshit. Yes, it occured a lot before but they've revamped the hardware and it's much less often now. I've had my Xbox 360 since its first week of release and I've never had it break down.
- A large online community: There are equally as many 13 year old kids singing into the microphone with their prepubescent voices as there are mature adults that send you a message after a round of SF4 to help you improve your game. But, the 360 has the largest community for cross platform games (the amount of people that play Call of Duty 4 is 360 > PC > PS3)
- As a result, a lot of features are geared towards online play so if you have other friends with a 360, playing together in a party whilst chatting to each other (and not letting other gamers hear) is great.
- Cross platform games (games on the 360 AND PS3) are often better on the 360 because it is easier to develop for. Consequently, the Xbox360 games will often (not always) look better than its PS3 counterpart (take Bayonetta for example, an upcoming game). Also, game companies like Valve (Half Life 2, Left 4 Dead) won't develop for the PS3 because it's so hard to do so.
- Constant updates to the interface and features (Facebook and Twitter is coming soon if you're into that stuff)
XBox 360 - Cons:
- Paying for online play (if you don't pay, you can't play games online - nothing else). Although it's not that expensive (comes down to about $1.90 a week), it's still paying.
- Aussies are robbed from some stuff like Netflix (streaming HD movies and TV shows) which Americans have.
PS3 - Pros:
- A lot of exclusives; many games for the PS3 you won't find for the PC or 360.
- Big on Japanese games: So if you're into jap stuff, there's a lot to find (although 360 has more JRPGs than PS3, now).
- If you're paranoid about hardware issues, PS3 is the more stable one (than 360).
- Free online play
- Big HDD - If you like storing shit on your console, PS3 has a huge harddrive.
PS3 - Cons:
- Generally uglier games on cross platform games in comparison to the 360 counterpart
- Kids. Many, many kids populate online play. Oh, and who sends chain mails nowadays? Believe it or not, chainmails go around on the PSNetwork. Like, "send this to 50 people and we will get exclusive content for CoD MW2!!!"
- Ugly interface. The interface works for the PSP but doesn't for the PS3. Scrolling through your messages and navigating through the menus is a pain.
Cons for BOTH:
DLC - Downloadable content - "extra" content (ie. content that should've been in the original game) that gets released weeks after the game's release, making you pay $15 for it. Or, content to squeeze the last bit of money from the franchise. Makes me angry to miss out on the full experience if I decide not to pay for DLC.