PS3
+Fully working backwards compatibility, and plethora of PS1/PS2 games that are available for cheap price. Edit: This is something that we have no idea about until launch.
Edit.2: Yes we do, we know PS3 will include PS2 chip, like PS2 had a PS1 chip.
+Free online play. Edit: 3rd parties are able to decide to charge if they want to, unlike XBL.
Edit.2: How likely thats going to happen as Sony's own games will have free online play. Of course MMORPGs are a different matter.
-Price. Edit: Your nearest competitor is $200 cheaper than you as a videogame machine.
Edit.2: 100$ cheaper, as it should be compared to the cheaper PS3 model. And your nearest competitor doesn't have built-in Blu-Ray/HD-DVD player, built-in wireless adaptor, a motion sensing controller, fully working backwards compatibility and free online play.
With HD-DVD and wireless adaptor add-ons the Xbox2 isn't that good of a deal anymore, is it?
-No graphical superiority (seen yet) to justify the increase in price nor the wait.
Edit.2: The price can be justified with the above mentioned details, and the wait can be justified with exclusive games.
Xbox2
+Popularity in USA + Europe.
Edit.2: Not as popular as in USA, EU has been Sony's territory for over a decade.
+Increased Japanese support (Capcom, Mistwalker, etc..)
Edit.2: Resident Evil 5 is a big blus for Xbox2. Mistwalker's games could turn out to be good or mediocre or bad, and eventhough Blue Dragon and Lost Odyssey would be great games it doesn't mean they'd automatically sell well.
The Xbox2 support in Japan is still far behind the amount of support Sony and Nintendo recieve there.
+Halo, Forza, GTA (same day release), Fable, Ninja Gaiden, Rare's titles (Banjo, KI, PDZ, etc..)
Edit.2: I could be wrong, but IIRC Fable, Ninja Gaiden, Banjo and PDZ weren't actually top sellers like ie. Halo, GTA, Final Fantasy, Metal Gear Solid, Gran Turismo, Formula One, Ratchet & Clank, and Mario & Zelda games.
+Best Selection of Western RPGs (Oblivion, Bioware's games, etc...)
Edit.2: And the worst selection of Japanese RPGs.
Anyhow, I can say with complete certainty that "Yes, there will be some turn-based RPGs" for the PlayStation 3. I can't say how many there will be, of course, or if that sub-genre will still be in demand by the end of the next-generation, but it's a given that we'll get some of them somewhere along the line. After all,
There are currently around 20 CONFIRMED role-playing games headed for PS3 already and it isn't even out yet. Plus, some of those confirmed titles include franchises that have a history of being turn-based (Shin Megami Tensei and Makai Wars immediately spring to mind).
Jeremy Dunham
Editor in Chief, IGN PlayStation Team
http://ps3.ign.com/mail/
+Sweetspot where price is concerned with true Next-gen graphics.
Edit.2: Most people still don't own HDTV, cheaper Wii could offer them more or less equal eyecandy, that being said I think the graphics aren't that big of a deal for the majority of console players (those ~100 million who bought PS2 instead of GC/Xbox, and those who bought GC instead of Xbox).
+Optional HD-DVD drive.
Edit.2: How's that a big plus? I predict the add-on will never be sold in large quantities.
+Best selection of FPSs and action games.
Edit.2: That could also be taken as there being too many games like that. Not to mention that most of those games will also be available for PC, and some for PS3.
-Less diverse choice of games compared to what's expected from Sony.
Edit.2: Less diverse choice of games compared to Sony and Nintendo