Most of the PS3 models will play PS2 games just fine. Some PS1 games too. And it has the wining HD format - very nice plus.
I'll still argue that LIVE is better than anything out there... yeah yeah I know it will cost a big time $49 a year, but that's less than the price of a game. I'll also argue that 360 has a much better game library of exclusive titles.
While the PS3 is growing on me it still needs some better exclusives to push me over.... GT5 may just do that. But if I had to pick one I'd take the 360 for the games.
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