Originally Posted by borat_sagdiyev
the xbox 360 can perform better, as it features a direct x 10 chip (a stripped version of the r600)
That is incorrect, neither the PS3 nor the 360 have DirectX 10 capabilities.
The GPU used in the Xbox 360 is not comparable to the R600. It's technical name is actaully the R500, which implies that it is actually around the speed of the Radeon R520. Really though, you can't compare PC and console graphics. They are totally different, since the console is dedicated to palying games. It's core clock speed is 500 MHz, and the R600's is rumored to be around 700-800MHz
Quoted from the wikipedia entry on the Xbox 360:
Graphics processing unit
While the first Xbox's graphics processing unit was produced by NVIDIA, the Xbox 360 uses a chip designed by ATI called Xenos. The chip was developed under the names "C1" and "R500". Xenos contains 48 unified shader units, which are capable of both vertex and pixel shading operations. This is in contrast to older graphics processor designs which utilize separate specialized units for these tasks. The GPU package contains two separate silicon dies, each on a 90 nm chip with a clock speed of 500 MHz; the GPU proper, manufactured by TSMC and a 10 MB eDRAM daughter-die, manufactured by NEC. Thanks to the daughter die, the Xenos can do 4x FSAA, z-buffering, and alpha blending with no appreciable performance penalty on the GPU. The GPU also houses additional capabilities typically separated into a motherboard chipset in PC systems - effectively replacing the northbridge chip. An aluminium heat sink is also implemented to cool the GPU, it is wider and shorter than the CPU heat sink.
For a comparison of the graphics of the PS3 and the 360 with current games, look at this:
Obviously, with new games being developed all the time, the PS3's graphics will be getting better and better