Of course the specs don't match and they are being released at different times - has there ever been a scenario where rival consoles possess the same specs and hit at the same time?
They're still the same generation.
I don't know how much the machines' specs will end up defining the quality of the games. For example, it's already been stated that 360 is easier to develop for than PS3, so that could go some way to levelling out any technological advantage the machine has.
In any case, I don't think the timeframe is far apart enough to suggest that PS3 will be significantly better than 360. We won't find out till we actually see some games running, which as yet with PS3 we've not.
They're still the same generation.
I don't know how much the machines' specs will end up defining the quality of the games. For example, it's already been stated that 360 is easier to develop for than PS3, so that could go some way to levelling out any technological advantage the machine has.
In any case, I don't think the timeframe is far apart enough to suggest that PS3 will be significantly better than 360. We won't find out till we actually see some games running, which as yet with PS3 we've not.