Update: the hi-res textures have been confirmed for PS3. As well, the multiplayer, co-op, and textures are on disc one for 360, while disc two contains single player. On PS3, all content is on the one disc.
Battlefield 3 will be split into two discs on Xbox 360, one of which will contain an optional high resolution texture pack for better quality surfaces and such. As well, the game's single player, co-op, and multiplayer modes will be spread across the two discs, though it's not known as of yet how exactly.
As of now, there's no comment on whether or not the PS3 version will see the higher resolution textures.
Console players not too impressed the graphics in beta will also be pleased to know significant improvements have been made in both versions since, though the 360 version as of yet has "the edge over the PS3 version"; PC players as well should be interested to know Battlefield 3 is more polished all around. Planet Battlefield's recounting of today's "Final Hours" event in San Francisco reads:
First thing I noticed on the consoles were the graphics. They looked much better than the beta. Textures were smoother, character movements were much more fluid, and environments seemed to have more warmth to them. Also, the lighting was more dynamic, atmospherics more gritty and present. Things just seem to run smoother on this build. All the frame rate issues, glitches, pops and sound drops of the beta were nowhere to be found. Bach reiterated that the beta was already a month and a half old before it was launched because of the time it takes to certify for release. It’s amazing how much polish they were able to put on the game since the beta.