i've owned each system intimately enough to make a good judgment of whether I should keep it or not.
My first system was a PS3. It sat next to my roommate's xbox 360 in a dorm room. His 360 was maybe bought two years after launch, but it was very loud, both the drive and the fan. It also started dying after about half a year with the RROD. It just seemed too much like a loud, obnoxious computer with the beige desktop look and the noise. I also had to hide the ginormous power brick behind my TV. My 80GB PS3 was shiny and quiet right next to it, unobtrusive with its black color and elegant next to the TV. It felt more sophisticated and more a quality product, not a computer boxed together. And it could play PS2 games and blu-ray. As far as games were concerned, I wasn't into sports or FPS, so the console of choice was obviously skewed in favor of the PS3, which had nice non-FPS exclusives and the potential for things like Final Fantasy 13 and LittleBigPlanet. What I really despised about the PS3 though, was the sixaxis controller. I had a $5 logitech gamepad that was made of better quality plastic and didn't creak. The L2 and R2 buttons on the sixaxis are also mushy and hurt my fngers to hold. The solution would be to get a third party controller or to get a dualshock 3 controller. However, I still much prefer the playstation gamepad layout to anyone else's.
I was one of those people lining up for the Wii back in November 17th or whenever it came out that never got one, and I tried several times. After many months later and the ebay price for one had dramatically dropped, I got one. I looked through the entire catalog but only found two games interesting; Mario Galaxy and Metroid Prime 3. When I first opened the box, I thought the Wii looked like a cheap white toy box, a very heavy one at that. The impression never changed when I had it sitting next to the other two consoles on its included stand. It was probably the biggest disappointment, even though I new it was just a glorified GC with a new controller. The remote was big and bulky, with this terrible gloss that made me have to clean it everyday. The button sizes and layout was terrible and I don't know how anyone could have designed something so hideiously impractical. The sleeve irritated my hand a lot, and the glossy cheap plastic always turned slimy after a short time of playing. The nunchuks were even more atrocious; $20 for a hollow POS plastic toy joystick that look liked something from the 99 cents store. The joystick being so light and the remote being so heavy makes for terrible balance. The whole gryoscope thing for the remote was very nonresponsive and the IR remote aiming and ghetto sensor bar was extremely rough. It seemed like some ghetto hack that some nerd kid put together one weekend. Mario Galaxy, I beat in one sitting and found it trite, uninteresting, and unfullfilling. Metroid Prime was pretty good, but I found myself fighting with the controller and wondering why the hell it turned out like this. Graphics were glorified N64, and people say that because of the polygons being so apparent in the games and the resolution was low and blurry, with component. Nintendo just had to ruin the Wii and turn it into a half-ass POS. I sold it after two months of ownership.
After my PS3 got jacked, I bought a 2009 model Xbox 360. I was gonna give the 360 another shot and it had all these Japanese RPGs on it that I knew really sucked but I would try them out anyway. The interface was much improved with the revamped dashboard, but I still wasn't liking it too much. Soundwise, it had come a long way. The DVD drive was very quiet on average usage, and the fan noise was minimal, and didn't bother me too much, even having the console sit next to my feet under my desk, me kicking it accidentally every now and then. It was even better when I could install the games onto the HD and have DVD spinless gaming. However, it was all about the games and no games on the Xbox were interesting and the RPGs I bought were actually really crappy. The beige look and form factor, large controller, and interface still screamed "PC" and "Microsoft", and I always had the gut feeling it would die on me at anytime or that it would be eclipsed in the next year my the xbox 720. So before the value dropped any lower I sold it.
Now I am waiting for the new SKUs of PS3, be it PS3 slim or just a bigger HD PS3. There's something about it being made by Sony, the games it has, and the quality of the product and the foresight it which it possesses that makes me want to come back to this console as opposed to the others even after mine got jacked. It has a presence and a permanence about it. I also like the softer look of the graphics and the smoothness of the framerate (specifically exclusive games, not crappy ports). It gives it a much more cinematic quality. The 360 has that harshness to it, like a a PC game, with the oversharpened look where you can spot how nasty the textures are and how jagged and pointy everything is. It gives me the impression of an unfinished, cardboard box game, a star without makeup, the smoke and mirrors and special FX team got laid off. It's like fluorescent lighting vs incandescent. I can see all my acne scars.
Anyway, I am holding over until a newer PS3 SKU comes out. In the meantime, my PC and my PS2 are keeping me company. And to answer the question more concisely, no I don't think the PS3 let me down, and it far surpasses the other two in the market, just by presence alone.