Uncharted 2 (in the words of the devs) was "at full PS3 power" However, they also said that they didn't completely optimize the code. AKA there's still room for improvement. They said "Uncharted 3 is going to look even better". I'm not being a fanboy or anything, that's just what's up, and besides, even if they couldn't get better than Uncharted 2 I wouldn't mind anyways, that games hot as hell.
Also, the life cycle is definitely going to be 10 years, don't live in denial my friend. Sure, a new console will likely come out when PS3 is only 6 years old (maybe, MAYBE 7) but what everyone is saying is that they will continue making games for the PS3 until 2016. Jeez, the PS2 is STILL selling 100k+ per week.
Well maybe not still, but last year this time it was.
P.S. Uncharted 2 for the PS3 runs at 60fps at 720p native. Gran Turismo 5 for the PS3 runs at 60fps at 1080p native. Google, use it next time.
If you must know the 360's CPU cores were based/developed based on Cell's PPE, as in developed after the Cell was. The GPU in the 360 is based on technology that was released around the same time as the GeForce 7800 series (what the RSX is) but is far more powerful, it was the first publicly available item that used unified shaders, basically a proto Radeon HD 2900 XT. And yes, the 360's hardware is also absolutely ancient and obsolete.
Much as I hate the 360, its GPU is actually substantially faster than the RSX. The SPUs should make the PS3 the better machine, although the SPU is really well suited to vertex processing and relatively poor at raster processing.
Unless a developer makes the effort to use the SPUs (or uses middleware that uses them), the 360 has 6 CPU threads (3 cores) compared to the PS3's 2 and a better GPU, so it's fairly easy for multi-platform games to end up being better on the 360, and the obvious quick fix is to just drop the resolution on the PS3 rather than spending time reworking code to be suitable for the SPU. Sad, but true.
Why do people keep comparing the hardware of the 2 machines when it's the software that matters? No one cares whether one machine has unified shaders while the other doesn't or how many core's one machine makes use of compared to the other. The proof is in the games, and so far Sony has a substantial lead over the XBox.
As far as this early line up goes, it looks to be shaping up into a pretty good year for Sony. Hopefully they all make it to store shelf's this year.