Heres a link for the PS3
http://www.macworld.com/news/2005/05/17/ps3/index.php
The 6mth jump by M$ might give them an advantage plus the fact the 360 will be easier to upgrade.
But they are both taking it to extremes and taking it way past whats needed for a kids gaming machine.
The 360 specs are still pre-release specs, what they are going to release is still unknown