The X360 had about as much reliability issues as the Playstation and Playstation 2.
That is to say, that the first batch was abysmally flawed, but they've certainly improved on their device...Although it seems like the X360 may have taken longer to get to acceptable levels.
As far as I can tell, all (if not a significant majority) of Playstation 1's made between September 24th, 1994 and December 5, 1995 all died due to laser warping..Which would mean that the reliability of said Playstations may have been as bad, or worse than the X360's.
For the Playstation 2, the disc read errors look to of been a problem for around 3 years before Sony fixed them. Sony also had a 30 day warranty on the Playstation 2's, so it looks like massive numbers of users that had the problems were pretty much SOL for replacements.
That's compared to the X360 which had problems for 2 years, but did fix the issue with the Falcon, and offered a 3 year warranty.
So I'd say that reliability is on the worse side of things - around PS1/PS2 quality, but the warranty has been much better...So it's a mixed bag.
Back from the dead, I'm afraid.
