i had the xbox 360 and sold it to buy my ps3. Most games are available on both systems, yes both systems do have games that are specific to them, but from what i am hearing, a lot of gaming companies are trying to get away from that. If you have a tv that is hd capable and want to save money your best bet will be to go with the ps3. They just came out with a ps3 Slim, it is basically the same as the normal ps3, just minus some options that were hardly used. the new ps3 slim is priced at $299, which is the same price for xbox elite, other wise the normal xbox is $249. I will include 3 links to best buy that will have the ps3, xbox elite, and normal xbox and you can compare them yourself. Both xbox's play dvd's, cd's and games, the ps3 plays bluray's, dvd's, cd's and games. So if you go with xbox you will also have to buy another piece of equipment for blurays, just the savings of getting the gaming unit and bluray player all in one is what got me to buy my ps3. so its really up to you descretion on which one you prefer. I will not tell you to buy one or the other, because i do not think it is right for me to be biased to one or the other, or to bad mouth either. I bought what i bought just for the fact that most games i played came on both systems and I liked the built in bluray that came standard w the ps3, also the ps3 has wireless internet capabilities built in, where as when i had the xbox 360 I had to buy a wireless adapter that is still $100 so that is what i based my decision on, i will give you the links to make your own informed decision.
xbox 360 elite- http://www.bestbuy.com/site/olspage.jsp?skuId=9460763&type=product&id=1218108384730
xbox 360- http://www.bestbuy.com/site/olspage.jsp?skuId=8928814&type=product&id=1215818957702
ps3 slim- http://www.bestbuy.com/site/olspage.jsp?skuId=9476952&type=product&id=1218115837227
ps3 fatty- http://www.bestbuy.com/site/olspage.jsp?skuId=8982988&type=product&id=1218005635152
also included the bigger ps3 in there for you, that is the one i have
my own personal comparison and decision