The Bottom Line: If you play single player games only no doubt go with xbox.
If you want to play multiplayer only, I suggest PS3 because its free to play online and less hackers.

This review will be about the PS3 and the Xbox I will cover both sides pros and cons and I will try to be as unbiased as possible. Starting with the Playstation 3:Now I have owned a Playstation 3 for over a year so I know a lot about them.
I personally like the controller better. Specifically the joystick. It is not jerky in any way although very sensitive which bothers some people.
Now as for selection of games it is really personal opinion. Yes it has GoW and Uncharted, but if you want multiplayer socom and MAG are the only ps3 only game that are multiplayer and action packed.
Pros:
Very quiet
Ps3 has a built in blu-ray player. Which lets face it thats pretty nice.
Ps3 is way less hackable then the Xbox. (although a major hack is now out) So its not unhackable but still better.
The joysticks are better and the controller smaller (although some people do not like that)
Playstation Network online play is free so no monthly cost to play online

Cons:
Ps3 is a bit bulky
Ps3's lowest price is $300 which is $100 more than Xbox
Servers are worse on ps3 but you are trading the price of $4 a month for server quality.
Does get a little hot

Xbox:Although I have not owned an xbox I will give my best opinion on it.
Microsoft just released there new xbox. with built in wifi and all those special new things well lets go in-depth for a minute.
1. The touch sensitive buttons. ok lets admit those are cool. But they are so easy to bump with your foot or something. Also my friends xbox has had the button push themselves when the xbox gets really hot.
2. The built-in Wi-Fi that is one of there best improvements. it is great but can have a few minor issues. Great update xbox.
3. The new design is slim lighter and quieter no problems there except that it can get a little hot.
The games for xbox only are I am not going to say better. but more games that are popular. Simply because everybody thinks if they could only release there game for one console then they would choose xbox. ALSO they get map packs for CoD a month before ps3.
Xbox is way easier to hack then ps3. simply because they kept it similar to a pc. You will not find a game where someone is hacking in some way (for example every CoD match I play on a friends there is a person hacking).
Pros:
Built-in wi-fi great just a few minor lags very rare.
Slightly smaller than ps3 very quiet but not as quiet as ps3
Servers are great less lag than ps3 but you have to pay
Games are a better selection.

Cons:
Hackers galor.
Paid subscriptions.
Controllers are big and bulky (although some people like this)
Joysticks are to jerky

Bottom line.
If you play single player games only no doubt go with xbox.
If you want to play multiplayer only, I suggest PS3 because its free to play online, and you will have way less hackers.
If you plan on single and multiplayer games, whatever has the games you want (i suggest ps3 just cause I like them but your decision)
If you want a blu-ray player ps3 is the recommendation.
as for the console price lets step back. a ps3 $300 w/ 160gb hard drive, 1 controller, and built in blu-ray, and built in wi-fi. that is the lowest priced ps3. The lowest xbox is $200 w/ 4gb hard drive, 1 controller, built in wi-fi. If you take the next step up and get a 250gb for $300 your trading the blu-ray player for 90gb just think about that.

Thanks for reading this review you can contact me at arhmagic@gmail.com any comments are appreciated.