Wow, the rate of RROD is frightening. I went the PS3 route myself this week as I'm a movie fanatic and was looking to get into Blu-ray as well as having an HD gaming console.
The course of action I'd recommend depends on your existing library of 360 games and your preference for Blu-ray. If you don't have a lot of money already tied up in a collection of games for the 360, have an HDTV, and are looking to go the Blu-ray route then I'd say you should get a PS3 and sell the 360s after they get back from being repaired. If you already have a large 360 library and don't care too much about Blu-ray then I'd recommend sending the 360s to be repaired, buying an arcade to hold you over, and selling one of the repaired consoles when you get them back.
