Technically, Playstation 3 is more powerful machine than Xbox 360, but we have seen several cross platform games performing noticeably better on Xbox 360 than PS3.
Kaz Hirai, Sony Computer Entertainment's president, addressed this point in the latest issue of Official PlayStation Magazine. "If you look back at the commentary we received when we launched PS2, there was a lot of talk to the effect that 'It's very difficult to program for' and 'It's easier on a Dreamcast'. It's happened before", Hirai told the magazine. "If they came back and told me, 'PS3? We can do this in a heartbeat,' that would be worrying because what it is telling me is that we're not pushing the envelope from a technology standpoint."
Hirai finally concluded that "the power that we've packed into PS3 will really manifest itself in software titles that come up four, five or six years down the line."