What to get PS3 vs xbox 360

Alright, me and my brother are going to buy one of them. Well that’s our plans for now. But we don’t really know what to choose.

The PS3 is going to be really expensive, and we don’t really know when it’s going to be out yet so we might just have to wait a long time for that. And even longer if we decide to wait until the prize will drop. But it looks really awesome, so it would be super fun to buy it. And we already have a PS2 and have a great experience with Playstation.

But the 360 is already out, and it’s much cheaper. So we will save a lot of time and money if we buy a 360. But to those of you that own a 360, what do you think of it? I have played it in the game shops, and it looks really great. Good graphics and everything!

Also, is it possible to play regular xbox games on a 360?
And what games do you recomend to a 360?

Please tip me with some ups and downsides from both of them.