I have a PS3, it's pretty legit. Not a surplus of great games out yet, but there are enough to keep you busy until some of the bigger releases. So far I have Resistance: Fall of Man, Rainbow Six Vegas, and Ratchet and Clank Future: Tools of Destruction. All three are killer games; if you're into online play, you can play for free. I recently downloaded the Uncharted: Drake's Fortune demo and I must say, that game looks very promising as well. While the 360 does have a year+ start, Sony is bridging the gap pretty quickly. Plus, with backwards compatibility, you could pick up some ps1/ps2 games for dirt cheap and have some fun.
Just for the purpose of reference, in my house we have all three next-gen systems (Wii, 360, PS3), and I think Wii is the best gaming experience out of the three (for now). Once games like Metal Gear 4 come out, I'll likely change my tune. The cool thing about the PS3 is it has a lot more to offer than just games. It has an internet browser, downloadable content (demos, full games, movie trailers, etc), supports various audio/video formats, wireless internet built in (xbox adapter is like $100+), and does a ton more shit that I haven't even gotten around to testing out. It can even run Linux operating system, if you're into to weird shit like that. Plus, on a relatively minor note, the controllers are all wireless and don't require batteries (charge via usb, which can be plugged into the PS3's usb ports to play while chargning).
At this point, I would say if you want a PS3, go for it. Make sure you look around for the best holiday deals, I'm sure you could snag one with some free games/controllers/movies/accessories if you look hard enough. I think they are still offering 5 free Blu-Ray discs at most places, along with whatever comes packed with it (Motorstorm/Spiderman 3/etc). Don't go for the 40gig version unelss you have no desire to play ps1/ps2 games, as it has no backwards compatability. In the end, it's your call. The 360 has more games out at this point, but that will change once the PS3 has been around long enough to build a strong game library.
Edit: Forgot to add, NES/SNES > All modern gaming consoles.
