That's a first. Read most reviews on games developed on both systems and more often than not, the review will state the PS3 suffers in the graphics department and the game doesn't run as smooth. MX vs ATV untamed is just one example..especially in the graphics dept. Also NCAA football runs at 60fps on 360 and they could only manage 30fps on the PS3.
I do believe in a couple years that the graphics might be better on the PS3 after the developers figure the system out.
Developers love the 360 because it's so much easier to make games on. MS has very friendly developer tools for them to use, where Sony hasn't been much help at all to developers.
I had the PS1 and PS2, but with the PS3, there just aren't the games out for it now so I'm holding off. 360 has a bigger and more diverse game libary and comes with a 3 year warranty. The older ones need it but the new systems are being built with better reliability. If you really need blue ray, get a PS3. If you want the best game system out, get a 360.