Straight from gamespot:

* PS3 is the most powerful console according to raw specs for the coming generation of consoles.
* Xbox 360 is second in terms of raw spec numbers to the PS3
* Both the RSX and the Xenos (Graphics processors for the respective consoles) are entirely unproven and untested in real world applications as of the time of this writing.
o The RSX and Xenos use new and different pipeline technologies compared to current graphics cards.
o RSX features specialized shader technology, while the Xenos uses a unified shader technology.
o The RSX is not Nvidia's G70, and the Xenos is not ATI's R520. The cards in the PS3 and 360 are purportedly more powerful than next gen PC cards according to their designers.
o Neither card will appear in PC's, although some features from each may reach desktop computers.
* Xbox 360 was the only console to have playable games to showcase for their next gen console.
* There were no PlayStation 3's or Xbox 360's built and playable as they will be in their final form. Zero.
* Xbox 360 has planned backwards compatability, and will eventually be able to play most if not all Xbox games. The PS3 is compatible with its previous generations.
* As of this writing, the 360 will have an integrated hard drive, whether the PS3 will have one integrated or as an add-on is unknown.
* The PS3 is capable of delivering a maximum 1080p resolution. The Xbox 360 delivers a maximum resolution of 1080i.
* PS3 is capable of delivering it's output to two HD screens simultaneously.
* Wi-Fi is standard on PS3, optional for the 360
* Both have wireless controllers. PS3 has 7 possible connections, 360 has 4.
* The PS3 and 360 controllers are prototypes.
* 360 has the most sophisticated online plan presented so far.
* None of the next gen consoles have flopped yet. Unless you're a fanboy... then they all flopped in some insignificant way.