I haven't tested it at HD yet, since I can't (But I've ran one at 1080p on my mates, and it looks great). Personally, I love it.
It does offer more than the Xbox 360 can, and I have both, I know, even if its just for the blu-ray/media compatability/free gaming, etc.
It plays any video I throw at it, unlike the 360, and the free gaming has to be a plus, even though its not fully configured yet.
I still like the Xbox 360, but the PS3 will become my new gaming console for games exclusive, and not.
The Xbox 360 will be for the games I have now, and exclusives.
I will be getting the rumble pack models when they appear, as this is something missing. I do like the fact I can just charge through USB without buying anything else too.
I also bought Metal Gear Solid 2 (only played 1) which I'm going to start playing through today, which seemed to work when I tested it
I am impressed, and happy I got one, definietly, no question.