Let the hive mind of Engadget get that for you.
"I need help! I want a small pocket camcorder but I'm not sure which one to get. I don't want to fall into the hype of the Flip because I worry two hours won't be enough. What should I be looking for when considering a small camcorder and where can I get a good quality one with expandable memory? Thanks!"
The PS3 doesn't even have movies available on the PSN. XBLM at least already has movies and TV shows.
Then there is the MCE aspect of the 360, the networked DVR functionality, the codec support, etc.
MS and Sony have differing models for personal media. I personnally like the MS model better.