Well i cannot say or compare the two since I only have and used a ps3.
All I can say is that I love the fact of the ps3 being not only a console but also a multi media centre so to say. I ripped all my CDs to the hard disk and using it as a juebox (not sure on the spelling there). I love watching my DvD collection on it and will start buying some blue rays.
As for the power, well it is proven to be a more powerful consol, but what i am intereted in is the games. Currently I am playing Uncharted and it is totally top notch. Great script and acting in it with great visuals.
So for now my feedback is, the PS3 is a GREAT console. Now waiting for MGS4 (I pre-ordered it).