I will always be a PS3 apologist. System was garbage at first, but between a PC, PS3, and Wii, I had everything I wanted (except Halo). The $500-600 price was idiotic, but once the system dropped to $400 and especially $300, it was a complete beast.
For starters, the exclusive content blew the 360 away as far as I was concerned. They pulled off some amazing work with some of the games on the PS3, later exclusives especially looked great. 360 had Gears first, but as soon as MGS4 and Uncharted 2 were out, the PS3 exclusives took the crown. Killzone 2 neogaf gif thread FTW (shame about that input lag).
Beyond that, the online was free, it included a blu-ray drive that received regular updates (including for 3D content), and all units had backwards compatibility for PS1 games. It also didn't have nearly as many issues with hardware quality as the 360 did.
Grand scheme of things, if you could afford multiple systems but still wanted to save money, PS3 and Wii and PC was the best option.