RED RING OF DEATH........

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If you get a newer 360 with the Falcon hardware (google it) then chances of getting a RROD are greatly reduced. The NXE update allowing you to fully install games on the HD and stream them off that also reduces heat (main culprit for the RROD) and noise.

I own both an Xbox360 and a PS3 and the xbox is by far the better system to me. A system's success is judged by the success of its games. Although there are a few pretty decent exclusives on the ps3 (Resistance, LittleBigPlanet, etc.), the Xbox just has many more, and arguably better, choices.

The PS3 has hands-down the more durable hardware and if you're already in the market for a bluray player, like I was, then you can't get a better bluray player than the ps3. However, the software just isn't there for the PS3 like it is for the Xbox. Hopefully that will change at some point because as much as I love bluray, I'd like my 400 bucks to go a little further than that.