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sienster said:
I got my 360 in Feb 06 and haven't had any problems with it. I've left it on all night a few times. Key is, I've only moved it once.

That being said, I would get a 360. There are more games out for it and more exclusive titles. If you prefer sports games, the framerate is much better on the 360. Also, a lot of developers are developing games for the 360 first and then the PS3 almost as an afterthought.

I don't think you'd be disappointed with either one - there is no wrong decision here, but as many have stated before, make a list of all the upcoming games for both systems and see which list appeals to you more.

I don't know, I bought mine in January 2006 (and so did two of my friends) and we haven't had any problems.  The same holds true for two other friends that bought theirs later in the year.  You'd think that with the claims of 30-1,000,000% fail rates (or sometimes"I've had seventy 360's fail on me") that at least one of us would have been hit.  However, I do have one friend that just recently bought a returned 360 from Best Buy and it RRoD'd.  I held down the power button and it went away, but it will probably come back (there's probably a reason it was returned).  Anyway, it's still covered under the 3 year warranty. 

I say, buy the 360 now because it has a good library.  Later, after the PS3 comes down in price again, buy it and then you'll be sitting pretty!  I already have a 360 and PS3, I'm just waiting for Yentindo to lower the price of the Wii before buying it.