Not wanting to get into an argument here but Ive had a 360 from about 6 months before the PS3 came out got the PS3 on launch week and its probably been the biggest dissapointment I've ever spent money on, the games selection is pretty poor even now. GT5 Prologue is Gorgeous to look at but boring as hell to play not a patch on Forza 2, online is crap compared to live yes I know its free but you can tell why, things like being able to talk to your friends when your both playing different games cant be done on PS3, cross game invites to play online etc. everything is just so much more integrated, online on the PS3 feels like it was tacked on on the 360 it was all incorporated from the beginning.
As for being better value for money hmm maybe if your after a Blu Ray Player too but as a games machine not at all.
You can pick up a 360 Premium 60gb with 3 games and an extra controller for round £199 at HMV, a PS3 with 3 games is 93 quid more and that only includes 1 controller, you will also need a bluetooth headset for online plus an HD cable if you get an HDTV which are bother extras that you get with the 360. Yes you get wifi on the PS3 and its an extra on the 360 but there are cheapish ways to add wifi to the 360 with ethernet to wifi bridges should you really need to.
Theres a far greater range of pre owned 360 games available a lot of which haven't been available on the PS3 or came out a lot later so are more expensive Bioshock comes to mind.
Most of the problems with the 360 overheating have been solved now I bought my sister and brother in law one for christmas and its far quieter and cooler running that my 18 month old Elite which has never given me any problems.
If it wasn't for Blu Ray my PS3 would have been sold long ago as it rarely gets turned on.
In short Matt get the 360 have some fun your still young, your lens will come theres plenty of time.
Just my opinion btw
Sean
Bloody hell didn't realise I had typed so much :s