I think most all of you are missing the point. (Note: The 60GB is the only Real PS3, all others are crap, compared. Also I called to double check these numbers with the friends mentioned.)
I've had my PS3 since release and never have I had a single overheating, freezing, or any other problem. I also personally know of two other units that were launch console owned by friends that have been just as reliable.
I also know more than 10 Xbox 360 units within my small group of friends, 4 that I witnessed the purchase of. Of all these consoles, EVERY ONE had critical RROD board failures within the first 3 months resulting in Warranty replacement, 3 of those also RROD and were returned to GameStop and traded for PS3s.
The Xbox is a gaming console.
The PS3 is a self contained home entertainment center that can play games.
The 60GB PS3 can function as a Win/Linux computer, Can browse the interwebs, Play BluRay dvds, and has %100 backwards compatibility with PS1 and PS2 games, the PSN is free, has it's own online Second Life like community, and has built in wifi and 4 USB ports and fancy chrome trim.
Newer models have all this except backwards compatibility, wifi, 4 usbports, cool trim, and the ability to install another OS.
The Xbox 360 has a LARGER (not better) selection of games, cheaper price, and larger community.
They each have their pros and cons but I'm sick and tired of fanboys ranting and raving about how the Xbox is better because it's cheaper and has more games.
Hardware speaking, the PS3 is the best, hands down. It's hardware it's mopping the floor with current gen technologies and hasn't even broken a sweat yet. It's perfectly poised for the next gen bleeding edge software and hardware advancements by being so drastically over built.
The Xbox 360 will melt and bend it's mobo ending in RROD if you play it too hard.
Yeah.
Real hard choice.