I do own a 360.
And honestly I DO love it a lot. However, this question is going to cause a lot of arguments again
Bottom line, have a look at the PS3, and the 360 and see which you prefer.
If you want Blueray, PS3 is better.
On the other hand, for the same price a Wii and a 360 could be yours.
Have a look at the games on each, maybe join to IGN to download some insider videos of both of their top games.
Personally, I want a PS3, but not for at least 6 - 12 months after launch, for more games to be released I am interested in.
*EDIT*
There is hardly a difference in the specs of both systems, so dont let that worry you.
HD-DVD is coming to the 360 eventually to.