Well PS3 has the ability to play Blu ray DVD's. you can play games on it obviously and you can go on the internet. going online is free so you don't have to pay. NETFLIX is available so you can also rent and watch movies there. you can put pictures and make albums, watch short videos and save music on it too.
Wireless remote controls, wallpapers, frinds list, and i think that is it. its like a lap top except it only does everything.
Sorry i don't own a Xbox 360.