SPOnG played both the 360 and the PS3 versions, and while both are good, the 360 version is clearly superior, and by a good margin.
Not since inFamous have they enjoyed a game so much. While that game had more depth and variety, Bayonetta has it beaten hands down for non-stop visual fun, and unremitting action. The story is crazy and possibly pointless, but that's not what Bayonetta is about. It's a rip-snorting slice of non-stop naughty action, and they can't get enough of it.