Each console has its strengths and weaknesses. Working on multiplatform games, the 360 version is, more often than not, CPU-bound while the PS3 is very often GPU-bound. But in reality there's very little in it. They're both horribly memory-bound and the 360's Achilles' heel is actually the lack of disc space.

But look at something like Halo4. It's had all of Microsoft's drive behind it. Pretty, yes. Significantly better than anything the PS3 could do? Not really, no.