You've hit the nail on the head with that one, unfortunately Sony doesn't agree and that is where my issue lies. They believe the GPU can be done away with by placing all the burden on the CPU and I, as appears do you disagree. A top class GPU is fundamental in the presentation, leave the physics to the CPU.
Yes well, I'm pretty sure they've learnt their lesson for now.
The massive potential of the Cell is crippled by the aged technology of the RSX, while the comparatively lower-spec Xenon copes very well with the help of the Xenos, with its unified shaders.
Anyone who has done the research knows that the PS3 and 360, while taking very different approaches, solve the problem very well. They each have their strong and weak points (as is expected in any engineering situation). Weighing everything up puts their performance ON PAR.