I've been a PS3 owner for just over 4 years now. Love it.
--Full HD
--Blu-Ray player that gets constant updates
--Up-converts regular DVDs to look awesome
--The reliability of the console itself is very high, as opposed to the XBOX 360 (something like 80% of XBOX owners will end up with a broken console at some point ... seriously, the numbers are that high)
--FREE ONLINE PLAY
These things and more make it a fantastic all-around home theater piece even if you're not much of a gamer. Also consider that Blu-ray discs (movies or games) do not scratch as easily as DVDs, which is a big factor if you're not super careful with your stuff or if you have kids.
But for games, it's awesome. What you need to consider with games is basically 2 things:
1) Do you play a LOT online? If you do, it might be a tougher choice. There is a larger online community for XBOX, but there are also a lot more little kids. So you could argue XBOX is a better online console because of more people, but for me it's much worse because I don't want to play with a bunch of 11-year-olds swearing at me CONSTANTLY (seriously, constantly). You get some of that with the PS3, of course, but less. So even though I play online a lot, the PS3 was my choice
2) Exclusive games. I like the PS3's exclusives better than the XBOX, but those are good too. The Uncharted series and the God of War series are some of the best games of al time, period (yes, so are Halo and Gears of War, but I prefer the others), and there are other great PS3 exclusives as well.
Beyond this, most games are multi-platform these days, and while people will argue over which system is better for certain games, it's true 90% of the time that there is not a ton of difference, and if there is the PS3 is usually a little better just because it has so much more horsepower graphics-wise (the 360 does make good use if what it has under the hood, though, whereas the PS3 games thus far haven't tapped it's full potential).