or rather a rebuttal to a comment by one Sony fanboy on an MS site.
"The 360 is just as much “vaporware” as the PS3. There wasn’t a single working 360 at E3. So unless MS will be releasing PowerMacs this November, the 360 is vapor too."
Not actually true. There WAS a working 360 at the ATI booth (according to AnandTech). I also recall reading an interview with EA where they talked about developing for the 360 alpha (probably the G5 machines) were expecting the beta machines soon and were expecting to have the final "xbox 2" around june or july. As I recall this several months ago.
Either way, the big difference is that MS had Alphas available for playing 360 games at E3 and there was an actual 360 (though ATI said it wasn't running at full speed) at E3. Both Sony and MS had numerous mockups of their systems.
So the Xbox 360 exists and the PS3 has not gotten to the point in its development cycle that it actually exists, but I'm sure it will. Whether that will happen by Sony's new spring '06 estimate, and whether it will meet the performance specs it is claiming can't possibly be confirmed until they've put one together, so I'll hold off condemning or praising until then.