No point in getting a PS3 yet, I�d get an Xbox 360. There is a lot of hype about the PS3, with there being very little evidence that it's actually more powerful. Hardware developers always make lots of claims to hype up their machine, using clever jargon to make their machine sound great.
I'm not convinced that the PS3 is more powerful enough to make it any better. I hope I'm wrong, but early indications from reviews I've read about multi-format games the PS3 isn't graphically any better.
It's still too early to know which is better, for me the Xbox has more exclusive games, i.e. Halo, gears of war etc (that I like). GTA is now being released on all formats at the same time, so is no longer released on the playstation 1st.
I've had a 360 for nearly a year now and I'm really happy with it. If the PS3 turns out to be good and noticeably better than the 360, then I'll get one next year when their around �250.00.
Of course if you�re a hardcore playstation nut (fan) with money to burn then none of the above matters.