I'd got the Wii + 360 route then. Buddy of mine got a PS3 yesterday from his girlfriend as an early xmas gift, we hooked it up and it doesn't look any different than a 360, and sure as fuck isn't worth $600+. On Call of Duty 3 the 360 actually looked better IMO. I was planning on buying a PS3, until I saw it side by side with 360 playing the same games.
If you aren't interested in a HD console then just get the Wii and use the extra cash for accessories and games.