Which is better, PS3 Or Xbox?

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Which is better, PS3 Or Xbox?
For over five years now we've had time to explore both systems. I'm pretty sure everyone has tried both systems at one time or another. Now we can all evaluate on our experiences.

ooh shiny...
But first! We should get one little thing out of the way. We can not deny that the PlayStation 3 is a far superior machine in terms of specs. 

-The PS3 can handle the power of Blu-ray while the 360 can't.
-The PS3 can handle the power of 1080p High Definition while the 360 can't.(correction! The new Elite Version has HDMI finally!)
-The PS3 has a much faster processor.

You can not say otherwise, I am sorry, but this is fact.
Do not be discouraged, the 360 is just as good if not better. As we learn in this article, pure power does not compare to the ingenious architecture. We all know the people behind Microsoft are pure nerd and they have designed their system in such a way that it has capabilities to outperform--or at least that is what people seem to be saying. Let me clarify this to you. That is NOT possible. It is on some levels, but that is not what is happening here. The reason that some games look better on the 360 is because developers are using old technology with the 360, this is technology they are familiar and prefer to use this, rather than start from scratch with the PS3s new technology.
You see, what happens is that developers would rather make a game ONE time and then port it to the other system. What ALWAYS ends up happening is that they make it for the 360 and then copy it to the PS3, and in doing so, the quality of the PS3 version suffers greatly.

Also you might have noticed that the 360 takes a lot less time to update. I am not sure why this is, maybe its because it has almost nothing to update or its just better at managing this stuff than the PS3.

Now, about the games. There are a lot great games out there and most of the big ones are shared by both systems. What proves a systems superiority are games, most notably, the exclusives. Here's a list of what I believe are each systems best exclusive games:
What do you think?
If you notice PS3 has better games. Just kidding. Both Systems have outstanding titles.What it comes down to is ultimately, what type of game you like best. Notice the PS3 side has all third-person while the 360 side has almost all first-person, This has established over the years by what fans of each system demand. This has drawn a very clear line between the two systems and has led me to believe that there is no right or wrong answer. No single system is superior to the other. Except in the online matter, the 360 has far more user support for the paid Xbox live. While the Free PSN is great, it doesn't quite measure up to the "lively" online of the Xbox as I have noticed.

One thing I am 100 percent sure the PS3 totally dominates though is movies. Nothing beats crystal clear blu-ray Madagascar ( I was gonna say tits--but that would be inappropriate for the ladies).

Which system do you believe is better? And why?