Get a PS3 they're far more versatile with bluray capability, flash memory slots and you can use your computer as a media server to your PS and play everything
on your computer such as mp3. movie files and pictures
And they do look a lot better than the X-box too 
Yeah, I love my PS3 as a Blu-Ray player. It is a better built machine. If your not into FPS's, it's probably the way to go. I actually much prefer the WMC interface for streaming movies and mp3s on my 360. Personally, I could never give up Halo 3 or Gears of War (and the upcoming Gears of War 2). If you're just going to have one, it really depends on what you're going to do with it. If Blu Ray is your main concern, than it's a no brainer. If games are,I'd say go with the 360 unless there's a specific game you want to play that's PS3 exclusive.