You know, if you're going to talk about consoles, you might as well talk in proper terms. The console itself does not have better graphics? Are you saying you like the graphics on the case of the console? Games have graphics, consoles do NOT. The graphics all depend on the creator of the game. Whether the console can handle that, that's a whole different story.
You should be talking in terms of hardware and in that case, the Xbox360 doesn't even come close to the PS3's power. The only games which slightly show the PS3's power are Resistance and Motorstorm but better games will be coming out in the next few years which should place Sony back on the map.
The PS3 is clearly the best console out there (if you can't afford it, that's another story) but since I'm not a console person, I shall go with "None of the above".