I have an Xbox 360. Dude, there is Halo and then everything else. How can you pass up Halo 2 and 3? You'l be crying at the end of Halo 3. It's just a no-brainer that you *have* to play those as soon as possible.
And then with Gears of War you get to use an assault rifle with a *chainsaw* on it. That is the all-time best weapon ever! Nothing better than having the "melee" option of sawing your enemy in half straight down the middle. I saw one comment that assassin's creed is better on PS3 in terms of graphics- but too bad that game has a terrible plot, too few voice-overs, and game play that is way too simple (just swing your sword over and over and your enemies fall by the dozen). Unless you have a super expensive 1080p tv, it's hard to see going with the PS3 over Xbox 360 just for graphics alone. My tv is good, but not good enough to tell the difference.
I'm not worried about the blu-ray situation, because I don't plan on buying HD DVDs for a couple more years, at which point I'll go down to the local store and pick up a basic blu-ray player for $50 anyway.
Do people actually use their console systems for music and other stuff that use a big HD? For me, it's a gaming machine pure and simple.
Anyway, if you decide to go with the PS3, then you can come over here and play Halo 2 & 3, because you really have to do that!
good luck with your decision,
-KJM5 aka "jam"