as someone who also owns all three, I would say the 360 at the moment, unless you REALLY love metal gear.

and I'm the guy who refused to buy the first xBox.

There is a HUGE library of very good games already for the 360. The online community is so much more refined since it's paid, and the quality of the online arcade games is great and handled very well.

Now, in favor of the PS3, I LOVE watching bluray movies on my 1080p set. I LOVE playing ninja gaiden, uncharted, and a few other sorted games. I'll definitely be getting metal gear and a few other 1st party titles that are planned this year. I also love how quiet it is compared to my 360.

I find that when i try to play online with many games on the PS3 that most people aren't using headsets and thats annoying when playing a team based game such as COD4 or Vegas or something.

I would say if you are into hard core multiplayer and want as many good games as possible at the moment go with the 360. The exclusives at the moment are many, and of great quality.

If you want the multimedia capabilities of bluray and few REALLY good single player games (exclusives) and amazing build quality go with the ps3. the drive is also VERY easy to swap out for a regular laptop drive on the PS3 where the 360 forces you into their drive for stupid money. (only important really if you plan on putting lots of media on the console.

This is only discussing first party/exclusive titles, obviously there are many titles that are available on both.

I agree that I love the first party titles for my wii, and i use it for playing retro titles, but my 360 and PS3 see much more one on one action.

Good luck!