360 = PC in a litle white box only with less options to consider. A full year head start, plus the dev-kit time before it's launch.
PS3 = Yet another entirely new platform from Sony for developers. It will take some getting used to but in probably a few months, not even as long as this time next year, you will start seeing some better games for the PS3 and it will gain a good bit of ground catching up to the 360. The launch was quite shitty, but not much shittier than the 360's launch.
Wii = Nintendo followed the good ol' k.i.s.s. acronym on this one. Not hugely technical or graphically powerful, but the most fun and innovative console available, as well as the cheapest. Could easily be a winning combination. Unfortunately just as easily as the novelty could wear off.
The PS3 has a lead on the 360 in the hardware department, but falls behind in terms of how easy it is to develop and optimize games for the console.
On a side note: Gears of war is not the best looking game because of the hardware, it is because of the engine behind the game (which has been in development probably since before the 360 was even a concept). Damned shame more people can't realize that.
You can probably count on PS3 having titles above that quality a year from now. (360 too, they will likely eventually end up about even, especially with so many developers releasing the same titles on both consoles.