The Playstation 3 was at one point the most expensive console of the the three. Since launch though the price has dropped quite a bit and is very competitive to the other two consoles. As I have wrote before there are some hidden charges in the PS3, but not nearly as many as the Xbox 360 or the Wii.
The PS3 bundle is usually right around $400.00 as of 2010. Now you get the system, usually a 40 gig hard drive a controller and a cord to charge the controller, which Microsoft does not due, plus the PS3 controller has a built in battery, so you will not have to purchase a separate one, unlike it’s Microsoft counterpart. The only real knock I will give the PS3 and this goes for all the systems, it does not come with a HDMI cord. If you have a Hi Def TV you will definitely want to purchase one.
Two major advantage the PS3 has, it plays Blu Ray movies and the online game play is free (for now). Blu Rays do look great on your Hi Def TV. At one point, Xbox 360 had way more games than the PS3, but over the past couple of years, PS# has caught up, and any major game release usually comes out for both, plus PS3 will have God of War 3 this March.
PS3 and Xbox 360 are both great systems, but of the two, PS3 has far less hidden costs, plus more features.