Wow. I've just read through this whole thread, and want to chime in with my feelings about the two consoles.

I don't have either (nor a Wii for that matter), so mine may be an uncommon perspective.

I've played each console sparingly. A couple of years ago I played Geometry Wars on the 360, and for a few weeks decided I wanted a 360. The urge eventually passed.

A few weeks ago I played Gravity Crash, and decided I want a PS3. Since then, I've been watching DP, Craigslist, & ebay trying to score an older backwards-compatible PS3 at a price I can afford. BUT, I can't afford a realistic or fair price for a PS3, and I'm assuming this urge will pass too.

If I was going to buy one today, I'd go with the PS3. I hate to say it, especially as I dislike Sony's usual business practices, but all else being equal I'd pick the PS3 because of my fear that a 360 will spontaneously die on me due to an inherently unreliable design.

I'll most likely not get either until after the next consoles come out, whenever that happens.

That's my 2 cents.