The ignorance on here is unbelievable.
The 360 may be the king at the moment, but purely because it has better titles currently available. The PS3 is much more powerful on paper but lacks, at present, the games that justify these higher specs. It is technologically superior, and such can be expected from a console released a year and half after the one everyone is comparing it to. Is that not blatantly obvious?
Gears Of War was what I saw on the 360. I was quite impressed, but it was nothing I hadn't already seen on the PC. The game I was shown on the PS3 was some boxing one, and it absolutely and completely blew me away. At first glance I thought it was showing a video clip because the pure detail on the models (sweat, hair, blood etc) was stunning. HOWEVER, I agree with that the 360 fans are saying. We probably got more enjoyment out of Gears Of War. Hence there is a strong case to argue that the better console is a reflection of the "better" games.
In summary, The PS3 is definitely more up to date in terms of technology, this is irrefutable. However, as you all point out, there are very few games out at the moment which can justify the PS3 as a "better" console. I do however believe the PS3 will enjoy more exciting titles in the future as it enjoys market dominance in Japan, where a lot of the games developers are based.
This whole argument ****** me off more than PS1 vs N64. The nerds used to go on about how the N64 was better because it was "64 bit" and there were "no loading times" yet in the real world the PS1 was so infinitely superior it wasn't even funny.