Power:

The PS3 really is a powerhouse. With 7 synergestic processers and 1 back up, this thing lacks nothing when it comes to having a very strong CPU.

Graphics:

The PS3 has amazing graphics because it uses Blu-Ray. Blu-Ray inside the PS3 has it's downsides but when it comes to graphics the PS3 can produce some images you wouldn't believe. The PS3's runs on a resolution of 1080p which is great but another problem is that it's hard for game developers to make games in 1080p, so you will see most PS3 games in either 720p or 1080i.

Features:

The PS3 has some pretty nice features like multimedia capablities, connectivity with the PSP, and either 80GB's or 40GB's of memory space.

Online:

A major feature that distinguishes itself from it's predecessors is it's unified online gaming service, PlayStation Network, giving it that edge in online gaming.

Quality:

The quality for the PS3 is still a ways off from being in the comfort zone, with a 20% chance of it crashing prematurely.

Price:

The price for the PS3 is the biggest bummer. $400 for the package with 40GB's and $500 for the package with 80GB's. The plus side is that it's also a Blu-Ray movie player.

Controller:

The PS3 controller called the Sixaxis, is truly an immitation of the Wii's remote. It is built like the PS2's controller accept it has tilt control, which wasn't added until Nintendo showed off their remote. The Sixaxis does not have vibration.