Halo: Reach is about as hard as the 360 will ever be pushed (except maybe Gears 3). The PS3 is definitely the more powerful console, but it doesn't blow the 360 out of the water in terms of power.
Note: I am not a Sony fanboy (I own a PS3, a Wii, and a gaming PC).
We already knew that Sledgehammer would be developing the next CoD after Black Ops in 2009. Why is this being confirmed? Does it really matter who CoD is developed by? If the developer doesn't spend at least two years making the game, there is no way it will live up to the last quality entries in the series.