I guess by now there's not a lot more that can be added, but i'd certainly reccommend it. (not that i think the 360 is bad, i own both, but the PS3 has come a long way in the last 12 months and it's future looks very bright.
Whilst it may not have the wealth of games or too many exclusive AAA titles at the moment it's certainly not lacking in good games to play on it.
RFoM, Motorstorm, Ratchet and Clank, CoD4, Uncharted, DMC4, GH3, Burnout, Skate,Warhawk, Pro Evo, Hot Shots Golf, Ninja Gaiden, etc etc etc. Whatever suits your taste.
So the whole 'PS3 has no games' is outdated.
It also has a good 08 lineup, is future proof, has a blu-ray player, can act as a media server.
It's definately good value for money.