X360: 512MB of 22.4GB/s GDDR3 (700Mhz) shared between all system components. All data passes by the North Bridge, which has access to the RAM, the R500 and the South Bridge. The R500 has a 64GB/link to a separate chip consisting of 10MB of EDRAM and the necessary access logic.
PS3: 256MB of 25.6GB/s XDR (800Mhz) shared between all system components. All data passes by the CELL bus, which has access to the RAM, the RSX and the South Bridge. The RSX has access to an additionnal and dedicated 256MB of 22.4GB/s GDDR3 (700Mhz). Also, the shared memory has a theorical maximum of 20GB/s from the CELL bus to the RSX and 15GB/s the other way around. This should however not be a real limitation.
That means that the dedicated bandwidth of the X360 to the GPU is higher, but the shared memory will have to be used significantly more. On the other hand, CELL also uses more memory bandwidth than the X360's CPU. The X360 would most likely have the bandwidth advantage, but it's hard to say by how much without a clear idea of exactly how the EDRAM is used (the "4x efficiency" makes me assume it's exclusively related to the Z-Buffer, but I'd prefer not to assume too much at this point)
Uttar