I've had a brief play on the PS3, I played on Formula One 2006 & motostorm. Both games looked good, but nothing really impressive. Graphics where on par on the 360. I would never pay all that money on a ps3. I didn't get to use the six axis on the controller, but the guy who has the PS3 doesn't like the six axis. He reckons its just another gimmick that Sony has tried to sell the console.
What everyone needs to remember is the fact that launch titles rarely cause a problem for a new console. I would say 18 months or so it will be the biggest selling thing on the planet. Until the games get good I shall abstain for now, methinks.
The PS3 will blow up here in a little while. I agree, give it some time and games and I think that it will outshine the Xbox 360. Hefty price tag with it, though. Here's to seeing price drops in the near future!