As pointed out by the videos, the Xbox 360 has a much more stable framerate than the PS3 version:
I still have the impression that some effects are in the Xbox 360 version that aren't in the PS3. Probably a more in-depth analysis would confirm, but it will only matter for those that really care about details. For most people, the only big difference should be the framerate.
IGN said:Still, there are some small differences worth noting. The PS3 presents more brightly, and this helps to bring out more visual detail in dark areas. In comparison, the blacks in the 360 version tend to wash out some of the finer details. In brightly lit areas, however, the PS3's brightness adds a slight haziness to the image that makes brighter colors look a touch washed out. The PS3 takes a hit in the framerate department, with noticeable dips into the low 20's in some especially hectic scenes. It's also worth noting the PS3 version appears slightly more aliased than the 360 version. You won't see this without looking closely because environments generally have so much polygonal detail that straight lines never stand out. Still, you'll notice a slight jagginess on gun models and some simpler environmental objects in the PS3 version.
I still have the impression that some effects are in the Xbox 360 version that aren't in the PS3. Probably a more in-depth analysis would confirm, but it will only matter for those that really care about details. For most people, the only big difference should be the framerate.