Just watched the gametrailers video. The video was really good, and everything was lined up nearly perfectly for comparison. Planning to get the game at the end of the year, but I was pretty surprised at how close the two were considering the amount of argument over it.
Some comments:
Yep, the 360 version is definitely sharper, but this appears to be at the expense of lighting and shadows, which are also obviously different between the 2. PS3 definitely softer image, but it is quite pleasant, I must say.
Framerate appear slightly smoother on 360 during faster driving, but practically no difference in all other cases.
Pop in also noticeable in both versions. Geometry pop in appears to be more or less the same, but texture and shadow map pop ins are readily more apparent on the 360 version. Shadows of PS3 version appear more detailed, especially when they drive underneath the rail tracks.
Aliasing also appears to be the same, though pixel counters say the PS3 version has no AA. But I trust my eyes, not specs. Whatever filter effect they have on the PS3 makes the jagginess less obvious though. This is most apparent about a minute and a half into the video, during the driving scene. When they shift the view from the 360 to the PS3 version, one can immediately see that the staircase effect on the reams of the car are more jarring and obvious on the 360 version.
The above are only slight differences. The most obvious difference to me are the explosions. The PS3 version has the definite advantage here. Bigger, more particles and fuller smoke.
In all, I'd prefer the PS3 version. Though as I live in asia, the 360 just dropped its price by 20% hmmm..... decisions decisions.....