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It seems the PS3 edges out the Xbox 360 in terms of specs.http://www.gamespot.com/news/2005/05/16/news_6124681.html
Sony also laid out the technical specs of the device. The PlayStation 3 will feature the much-vaunted Cell processor, which will run at 3.2 Ghz and feature 2.18 teraflops of performance. It will sport 256mb XDR main RAM at 3.2 Ghz, have 256MB of GDDR VRAM at 700mhz, a detachable 2.5 inch HDD slot, six usb 2.0 ports, Memory Stick Duo, a SD slot, a compact flash memory slot, Compact flash slot, 2 hdmi outputs, 1 av multi out, 1 SPDIF optical output, and 1-gigabit Ethernet built in port