Eh, I don't think one is necessarily overall better than the other. Just depends on what you want. PS3 can read blue-ray, 360 doesn't. So if watching movies on your gaming console is important to you, PS3 has the advantage. Now, people always dock 360 for having to pay to play online. But for one, it is only like $40 a YEAR, so it is nothing. Second, you get what you pay for. I have played PS3 online plenty of times. I don't experience even 1/4 of the problems playing Xbox Live as I have playing live on PS3. You may have to pay for it, but I have a far better online experience with the 360. As far as the games, it really just depends on your preferences. Look up the lists of PS3 exclusive and Xbox exclusive games, and see which list appeals to you more. For me, I don't really care as much for the PS3 exclusive games. Sure, they have some good ones that I would love to play, but there just aren't as many that appeal to me as the 360 has.
As far as PS4 and the next Xbox generation (I don't believe they actually said it would be called 720), it's not really an answerable question. People said Microsoft is now rushing to get theirs out, but I have my doubts. I have not read any information that wasn't from rumor sites that supports that they are rushing. Microsoft probably remembers the danger of rushing after their red ring of death fiasco. I am not so quick to say they will rush it. At this point, I don't think they would really lose money not rushing. Most people are pretty much set on whether they like Sony or Microsoft gaming. Most Xbox fans won't just buy a PS4 because it was the first one out. I would honestly just wait for both to come out, find out which console really appeals to you more, and buy that one. Don't want to buy a PS4 just to find out that you might like the Microsoft console features better. There is no rush. Besides, it is better to not buy consoles so quickly after release. The beginning phase is when they have the most problems. Wait for those problems and major flaws to become apparent, get fixed, and buy a console after they fix those issues. I waited to get my 360, and I have never had a single problem because of it.
Eh, I don't think one is necessarily overall better than the other. Just depends on what you want. PS3 can read blue-ray, 360 doesn't. So if watching movies on your gaming console is important to you, PS3 has the advantage. Now, people always dock 360 for having to pay to play online. But for one, it is only like $40 a YEAR, so it is nothing. Second, you get what you pay for. I have played PS3 online plenty of times. I don't experience even 1/4 of the problems playing Xbox Live as I have playing live on PS3. You may have to pay for it, but I have a far better online experience with the 360. As far as the games, it really just depends on your preferences. Look up the lists of PS3 exclusive and Xbox exclusive games, and see which list appeals to you more. For me, I don't really care as much for the PS3 exclusive games. Sure, they have some good ones that I would love to play, but there just aren't as many that appeal to me as the 360 has.
As far as PS4 and the next Xbox generation (I don't believe they actually said it would be called 720), it's not really an answerable question. People said Microsoft is now rushing to get theirs out, but I have my doubts. I have not read any information that wasn't from rumor sites that supports that they are rushing. Microsoft probably remembers the danger of rushing after their red ring of death fiasco. I am not so quick to say they will rush it. At this point, I don't think they would really lose money not rushing. Most people are pretty much set on whether they like Sony or Microsoft gaming. Most Xbox fans won't just buy a PS4 because it was the first one out. I would honestly just wait for both to come out, find out which console really appeals to you more, and buy that one. Don't want to buy a PS4 just to find out that you might like the Microsoft console features better. There is no rush. Besides, it is better to not buy consoles so quickly after release. The beginning phase is when they have the most problems. Wait for those problems and major flaws to become apparent, get fixed, and buy a console after they fix those issues. I waited to get my 360, and I have never had a single problem because of it.