MikeB on 17 December 2008
Failure rates are measured in percentage of failures per year. A third of launch units failed per year, a vast majority of launch 360s have since failed at least once.
PS2 failures were far less frequent as well as less severe (usually a loose screw). Have you heard of someone who has broken over 12 PS2s within the first three years on the market? Of course not, the same cannot be said about the 360.
