The PS3 was supposed to this unreal machine that is miles better than the 360 (which to a layman like me, can be measured with graphics).
In reality, the graphics are very similar, some games look slightly better on 360, some on PS3. I imagine it'll be exactly the same with the next generation.
I used to be Playstation through and through, like most people I think. I actually bought a PS3 but all of my mates apart from one (who bought a lot later) switched to Xbox. Mainly because of its price, which is a false economy, but it was a genius stroke from Microsoft that clearly worked. I switched to 360 because I wanted to play with my mates online. I dunno why I'm telling this story. Boobs.