PlayStation 3 is a Gem of the gaming products From World Leader Sony.The Blazing Fast 7 core cell engine makes it Boss of the Consoles.Black Finish, Best Blue Ray Disc player, , WiFi inbuilt, HDMI Output supporting resolution of 1080P(Full HD), which I suppose Xbox 360 is Missing, 60 GB hard drive and more over Playstation Store (Also called PSN) where you can download Game Demos, Themes, Wallpapers, Full Movies and TV episodes(I am afraid still not awailable in India).
They have also added a software called "Home", which currently is available only by invitation to the beta testers, is a state of an art world community, you can check videos at "You Tube". Xbox 360 stands no where near the PS3.PS3 is way faster, more responsive and more reliable. I have got all the consoles Xbox 360 , Nintendo Wii and PS3 , among all of them PS3 is undisputed Leader. Every week there is new stuff for download at Playstation store , where one can get Latest Demos, Even Full games, Themes and Backgrounds.
Check Videos on youtube.com for Comparison between PS3 and Xbox 360 and you will know the whole story.