I have nothing against the XBOX, but I am in the middle of my second return shipment to the repair shop for the infamous three red light ring problem...which, according to internet reports, is very very common and is the reason MS has extended the warrany out to a year (thank god).
Needless to say, this is the last time for me. My 360 will be Ebay'd shortly upon its return and I will (as I have been) enjoy my PS3 for occasional gaming and movie watching.
The 360 has been, by far, the most shotty piece of consumer electronics my HH has purchased in my 30 years of existence. To top it off, the fan was/is so loud on that thing, I cant imagine how you could watch HD DVD on it. The games are great, but I dont plan on having the 360 in my house beyond its warranty expiration...I have enjoyed it, but have soured on it due to constant breakdowns with very light use.
I dont think Sony has done everything correct w/ the PS3, but its one top notch piece of machinery so far. Polished and silent running, with all the nice 'stylish' touches - USB charge cables, touch sensitve eject and power buttons, trayless drive, etc.