This console is Awesome. It comes with free online play, a free online browser with video capabilities, a decent selection of games, and has the best graphics and sound of this generation.
First of all, unlike the 360, it comes with Playstation Network, which provides free online pay. You can play every game that 360 would make you pay 60 dollars a year to play. The online browser is the best one for a console in my opinion because it pretty much loads everything from flash games to videos to large Javescript items. I watch movies and shows and Youtube on it all the time.
Of it's games, it has pretty much as big a selection as Wii or Xbox 360. The Xbox might have have the Halo series exclusively, but the PS3 has gems like Infamous, Little Big Planet, Heavenly Sword, Metal Gear Solid 4, Fat Princess, and soon to come God of War 3 and Final Fantasy 13. The games that are on both 360 and PS3 are better on the PS3. For example, the game Call of Duty: World at War. On a side game called Nazi Zombies, the sounds are much more clear and horrifying while the graphics are much more crystal clear (although WaW has bad graphics in the first place). You hear the scream, squeals, and threats so much better.
Another great thing about this system is that, like the Wii, it has classics online from the older generations of Playstation. You can your old favorites like Crash Bandicoot, Croc, Spyro, Tekken, Final Fantasy, Tomba, and countless others.