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I'm not saying I don't reboot, to delete cache, release memory, update etc etc, but rebooting isn't turning the system off.

And the wasted electricity is an issue for another topic. My PS3 is in use most of the time (bluray/music/folding), but it's not something I need to justify anywho.

I actually feel kinda safer leaving my systems on than off though... I mean I've NEVER had any hardware break whilst it was on, only ever had problems on bootups.

Had my PS3s HDD die because of a power surge though. Was during a PSN update installation... very unlucky I suppose.