[quote name='dallow']Your home theater system is cluttered? When did you get a PS3?[/QUOTE]
I don't have one, and will never buy one since I don't even play games on the 360 that much anymore. But even without one it is a bit cluttered as I just have a TV stand with 3 shelves--with the receiver, HD Cable box and Blu Ray player taking up one--leaving the 360 to sit on the hardwood floor beside it. But clutter is relative, others have a ton more shit than that in their systems and it doesn't bother them at all. But I'm a neat freak and minimalist and like having as little shit as possible laying around.
I just see no point to own both unless you're a super die hard gamer and have to play the handful of AAA exclusives on each. Too costly and too much crap to cram in the home theater IMO if you're not a hardcore gamer since the gaming experiences are so similar.
We'd be much better off with a joint Sony/MS effort competing with Nintendo. Plenty of competition to keep good games coming, and the Sony/MS first party games all in one place. But it's a pipe dream and won't happen, it's more likely one of the two will just drop gaming all together a generation or two down the road than it is that they'd ever partner up.