I have a 60GB PS3, and I really like it. Online has been perfect so far in Resistance and Motorstorm. It's very easy to navigate around, and the system never freezes up (so far) like my 360 does (I'm on my 2nd 360.)
Motorstorm and VF5 are amazing. Tekken: Dark Resurrection just came out as a download for $20 and it's awesome. MKII Arcade is coming out soon as well, for supposedly $5. I've even been playing Q*Bert a lot over the last few days. I used to LOVE that game.
I honestly am playing my PS3 more than the 360 at the moment, mainly because of Motorstorm. I also really do like the backward compatibility with the PS1 and PS2. I've only had an issue with one PS2 game, where the music won't play.
Just like the 360, there are definitely some issues that need to be ironed out, like the fact that it won't scale to the resolution that you need to run. If a game is setup for 720p only, it scales to 480p instead of 1080i, which is all my TV will support. They have a hardware scaler, so now they just need to start using the damned thing.
Also, they need background downloading. Our concerns about not being able to find your friends while you're in a game is obviously being taken care of with "Home."
Not paying $60 for the privilege of using an online service is nice as well, especially since I get less lag over it when compared to Live.