No, it clearly has better lighting (Sun Rays/God Rays, shadowing, lighting) and AF. Even if all things are the same, those are implemented features. However the tradeoff is that it's at the "stage 1" HD resolution of 720 and the 360 doesn't have those features and is at 1080. I don't know what the frame rate is like.
Either way, if you're wanting to know which one is the better one technologically wise, that'd be the PS3. If you're wanting one that displays natively at 1080, then that'd be the 360. It's up to you which of these is more important.