Console wars never really meant much to me considering I always end up owning all the consoles in competition with one another. But even so, in the case of Playstation vs. Xbox, I always have to go with Playstation. It was a subconsious decision of preference. Over time I realized whenever a game went multiplatform I would ALWAYS go for the Playstation version.
I do believe that competition brings out the best in everyone though. When Sony was resting on their laurels thinking everyone would automatically want the PS3 for the sole reason that it was a followup to the PS2, Microsoft was hard at work crafting a console that would take them out of Sony's shadow. Cockiness is how Sony screwed themselves in the first place, so it's nice to see them hard at work trying to deliver a great experience for not only the consumers, but the developers as well.