Manifus, you and I both know the playstation 3 is superior -cough-.
Actually, I rather enjoy both systems...but the playstation 3 is getting a S-load of brand new games in the next few months, and throughout the year. Namely: Heavy Rain, Final Fantasy 13, God of War 3, TNA 2010, and a lot of others.
Ps3 has free online gaming, a decent community, a lot of rpg games and shooters, and a good choice of pay for download games in the PsN store. It even has a web browser, so yeah
It can play blueray movies too.
Xbox 360 has a more 'serious business' online community, a more dedicated fanbase to the games they have, a ton of shooters and such if thats your forte', and a bit more order to the way things are in the 360's main menu and online deals. No web browser though, (as far as I know), and you have to pay for xbox live to play your games online. One major thing I like about the 360 over the ps3, is it's capability to play music -while- you are playing a game on it. The ps3 can only play music when you're not playing, which is a bit annoying to me.
Besides that, if you know what you are doing...and understand how to avoid trouble, you could just get a newer PC and totally not download free versions to play without ever paying a dime. More bang for your buck, as Manifus said- but its also totally
not illegal
If I had to choose, I'd go with the newer PC. But, then again...if you have buddies you enjoy hanging with- get a 360 (And Halo, honestly...you can't have an xbox without it.) to have fun killing each other. The ps3 has multiplayer games, and a good online choice for games...but its not exactly a hook four controllers up and kill each other console. Its better for 2 player games, and playing by yourself.
Hope I helped a bit there. :]