Xbox 360 vs PS3...what to do

After talking with a friend who has an Xbox 360, and is an unapologetic Microsoft fanboy, I am again on the fence between the PS3 and the Xbox 360. I guess it all comes down to the pluses and minuses.

PS3 Pluses:
-Comes standard with Blu-ray
-Comes with a larger hard drive
-Can use a PSP to get your media anywhere

PS3 Minuses
-Limited game titles

Xbox Pluses:
-Online gaming superior
-More title available
-Xbox live
-Media Center interface seems better (my opinion)

Xbox 360 Minuses
-HD DVD sold as a separate accessory
-Smaller hard drive


What else can be added to this list? Also, what I want to know is why no one is talking about the media center capabilities of these machines? Probably because their are more gamers than media guys like me!

Engadget story about another PS3 price cut
Cnet.com Video of the updated PSP
Engadget interview with Peter Moore, Head of Xbox
Engadget Interview with Kaz Hirai and Jack Tretton, Presidents, Sony Computer Entertainment, Inc., and America

Can't stream network media to PSP

So I found out today that you can only stream media to your PSP if it is physically on your PS3 hard drive. I have to think that it's a matter of time until someone figures a way to get around this. What about connecting a large external drive to your PS3 and having all your media reside there? I found this post on PS3forums.com talking about connecting external drives to the PS3.
http://www.ps3forums.com/showthread.php?t=83445

This of course brings up a few questions. The main one being, if all of my media resides on a external drive connected to the PS3, can I still access that media on my network? If my only goal is to be able to access my media anywhere with a PSP then this may be a good idea. However, I like to have all of my data organized and a traditional file server that can be accessed anywhere in my house seems like the better thing to do.

Can I stream from a PS3 to a device other than a PSP?

Streaming to PSP is great, but now that means I need to buy a psp.
I wonder if the media streaming from the PS3 to the PSP uses a standard format? If so, then it may be possible to get that stream on something other than just a PSP.
The other thing is that a post I saw somewhere else said that the streaming is done by the PSP registering with PS-ONline and then talking to your PS3 that way. This could be a problem if you don't have a psp.

Hmmm.