I've had a 360 for a while and I got the PS3 when the price dropped. Both are good in their own ways. My 360 is one of the Jasper models and I treat the thing with kid gloves, which means no red ring for me yet (knocks on wood). But you pay through the nose for lots of things Sony gives you for free (such as online play and a wifi adapter). However, the 360 also seems to have a lot more titles than the PS3, especially if you have one of the newer models without backwards compatibility opening up he library of PS2 games. Personally, I also prefer the Xbox marketplace over the PS3 store. There just seems to be more there. But for the actual playing of games...both are fairly close right now. PS3 load times tend to be shorter since you install a part of the game on your hard drive, but you can install on the 360 too.
Honestly, if you're getting a console, you should really look at exclusives. Do you HAVE to play Metal Gear Solid or Uncharted? Get a PS3. Are Mass Effect and Halo more your bag? Get a 360.
Honestly, if you're getting a console, you should really look at exclusives. Do you HAVE to play Metal Gear Solid or Uncharted? Get a PS3. Are Mass Effect and Halo more your bag? Get a 360.