I have less experience with the PS3 but I do have some. There is a lot of give and take. They are near equal, and the only real difference is what you value in terms of game exclusives and your feature set priorities, as well as controller style.
Firstly, it depends on if you will be socially gaming with your friends. If you will be playing online (or split screen) with your friends and sharing games and content, then you probably would do best to consider this first. Though I have a long-time love for Playstation, this was the main reason I got an XBox 360. All my friends got it first, and we play online with each other all the time. Co-operative play online as well as voice and text chat on the XBox 360 is a great way to play, in my opinion.
Second, what kinds of games do you want to play? There are some exclusives to the PS3 as well as to the XBox 360, but most games these days play on both platforms, and there is little difference between the two. You won't get a huge noticeable drawback or improvement (graphically) for most games depending on which system you are playing it on. But if you feel like you're more likely to enjoy PS3 exclusives, go for PS3. If you want to play XBox 360 exclusives, go with XBox 360.
If neither of these have made your decision, then what is your play style? Do you want to play online a lot or offline? Arguably, the XBox 360 has superior online gameplay simply because the interface and XBox Live system is well integrated into gaming. The community on the XBox 360 is also arguably much more rich. Playstation's, however, while it may not be as polished, allows for free online gameplay, while XBox 360 requires a $50/yr subscription. However, Playstation Network is going to have a subscription tier which matches the XBox Live Gold service, so other than online gameplay, you'll get the same thing for similar pricing on each.
The controller scheme would be the last thing I'd consider. The Playstation's controller has largely remained unchanged (ergonomically) since the original DualShock. The layout is great and works wonderfully, except for first person shooters. I find the XBox 360's controller (with the left joystick above the d-pad) more ergonomical for extended use of the joystick. However, for RPGs and fighting games, and other games that use the d-pad extensively, I find the DualShock design to be superior.
If you do want to watch Bluray movies, then a PS3 will do that. XBox 360 only has DVD support (via its DVD-9 drive). However, you can also purchase a standalone Bluray player if you have decided on the XBox 360 over the PS3 already. For me, it's a nice bonus. I already have a 360 so I'd probably get a PS3 for Bluray and get a gaming system out of the deal. But if you only want one gaming system, then this is a potential cost-saving measure for you. If a standalone Bluray player is adequate for you, then you can go that route. If you already have a Bluray player, there's little reason to buy a PS3 for one. The only game that was hampered by the lack of a Bluray drive on the XBox 360 was Final Fantasy XIII, where the videos had to be compressed more to fit on 3 DVDs as opposed to a single Bluray disc.
Reliability is moot at this point. XBox 360 has not been plagued by the systemic heat-related failures leading to RROD since they revised the original motherboard about 3-4 years ago. Wifi is integrated into both (applicable only to the XBox 360 S, the Original XBox 360 requires an external wifi adapter), however the PS3 only has 802.11g while the XBox 360 S has 802.11n, which is faster. CPU and GPU specs aren't as important as they are very close. They balance each other out, anyway. The PS3's Cell processor is better performing than the XBox 360's CPU, but the XBox 360's GPU is more powerful than the PS3's. The XBox 360 S comes with an internal 250 GB hard drive which you probably won't end up upgrading (unless they come out with a 500 GB). The PS3 allows for 3rd party upgrades to the hard drive but I don't know if you may find that useful or not.
Ultimately, they are pretty even, and it all comes down to what you want to do, and who you want to game with.