http://ps3.ign.com/articles/614/614783p1.html
ING's Direct comparison.
I have an Xbox right now and looking at the Specs the two arn't too far off. Looks like Sony is going to banking on the periphials with 7 USB ports both look like they will have iPod compatability (cossing fingers that I don't have to reformat from Mac). Son'y HD size is undetermined and Microsoft is going with a 20 Gig removable. Also it is nice that both are going to be backwrds compatible. I am still undecided and will wait a month or two before getting a new Xbox. There will still be fans of both.