No way. I'm going to get one console, and it's going to be PS3. First of all, very few of the xbox360's titles really appeal to me. There's Oblivion, Fable, then there's a bunch of games that promise to be good but not exceptional... and that's about it.
Secondly, I've seen the PS3 demos and several of them easily kick the crap out of any three xbox demos combined.
I used to give 360 the benefit of the doubt, but last Sunday I went to SMAU (big electronics/computers fair in Italy) and they had a bunch of 360 for people to play with. They had the next Dead or Alive and a racing game which name I missed. I've watched people playing them with my own two eyes.
DoA had textures and models which easily beat any other current-gen fighting game. But that's about it. Lighting was current-gen (single shadow). Backgrounds were current-gen (good textures, a bit of reflection). Interaction with backgrounds was current-gen (smash a few predetermined items).
Worst of all, no dynamic textures or poses; the characters look exactly the same whether they are at 100% or 1% health. Just as bad, it still has the age-old problem of people's arms and legs passing through each other unless the "sweet spots" collide. Frankly, that sucks. It's almost anachronistic.
Ok, so you don't want blood on the character's faces and bits of bone jutting out - but at least make their clothes a bit ripped and their hair uncombed. Make flashlights point at them and produce realistic shadows. Make things so that the characters react differently depending on how and where they are hit, rather than just playing one of five predetermined animations. The next DoA looks like any current-gen fighting game, only that the characters are slightly prettier.
What about the racing game? Racing games should be nigh-photorealistic by now. Very few models on screen, and relatively simple too.
I went to the racing game xbox, and was again disappointed; the cars were indeed close to photorealistic (but honestly, they have been for a while now), but the backgrounds had obvious aliasing. Considering that xbox360's antialiasing hardware has been touted as one of its strong points over PS3, I found that really stupid. Again, the game didn't seem to have much in the way of gameplay innovation either - but I didn't get as good a look at it as DoA, so I've probably missed something.
In conclusion, Joshua Dial is right in getting an "old" xbox, 'cause the "new" one doesn't seem worth the money to me. I'm eagerly waiting for someone to actually play a PS3 game, and tell me whether the quite literally incredible goodness of the demos is for real.
edit: Fable, too. Still not worth the money. And I'm not quite sure that that game will be as good as it sounds.