I don't expect picture quality to be a factor in the comparisons.
The key points in my view are:
1) Recordability
2) Capacity
3) Player and movie costs
4) Studio support
5) PS3 boosting customer count for Bluray
and to a lesser extent player performance/bugs/issues.
The first two are the biggest factors for me though that is possibly not typical.
I am getting to the point though where the arguments are tired and I just want the bluray toys and what others do is of little concern
If I can get some number of released movies and record my own fair use recordings to disc I will be happy.