i have no console loyalty, i've owned pretty much all of them, i actually think the xbox was better than the ps2, but i played the ps2 more because it was launched well before it and had the better range of games. i bought a 360 and a ps3, and all my mates ended up getting a ps3, so i ended up giving the 360 to my bro. i also think the 360 is a better console than the ps3, just that the subscription and the fact none of my friends own it is a let down. whereas all the kids at school have 360's so my bro is constantly on it with his mates.
this time i will not be buying either @ launch, i will wait for a decent deal to appear later on, but i'm waiting to see what microsoft has to offer first before making a decision, it will also depend on how long til ms release it as well.
i have found though that since the xbox is cheaper, it tends to be the option parents go for when buying for their kids, so you get a lot more "idiots" on it than you do with the ps3. this has it's advantages with some games being "easier" to play since your up against 8 year olds, but then you have to put up with the ones on your team constantly screaming down the mic.
ps3 also has terrible voice support, nobody uses a mic, sony really need to start either shipping a mic with the console, or make it plug into the controller, i think this is xbox's best advantage, they really nailed down how to offer voice comms in games and in the right package too, cheap headsets plugged into the controller.
i'll probably end up with both again one way or another.