All good advice there friends...

Just to pinpoint the choices I have.
It is between the Xbox 360 Elite with 120GB HDD
and the only version they sell here which is the PS3 40GB version.

The price difference is around €100 EUR in favour of the Xbox.

And I saw a flick on youtube about the graphic difference. The uploader changed some display settings on the PS3 and showed us the difference (before changes and after). It looked like a redux of Assasins creed Xbox360 vs PS3.