I might actually get a 360 now, with all of the awesome games coming out (NOT Halo 3, such crap) and out already.

 Plus, the PS3 (which I was hoping to get) is failing to impress with basically only one AAA exclusive, which came out at launch.

 The XBLA is worth the purchase alone!

 However, I'm worried over the hardware issues....very worried.

 How long till the new versions come out?

That's the problem: The new version may already be out, but there is no way of knowing whether or not you are getting the "new and improved" version or not.

Basically, only Microsoft knows the serials of the "reliable" 360s, but they ain't tellin...

This is also the main reason why I haven't bought a 360 yet.

What does the 360 have that the ps3 doesnt?

Leo-J, I'm glad to see you defending Team Sony once more. But, NintendoTogepi is my friend, and as such, I shall support his warped and untrue opinions...

Just kidding!

Buy a warranty if you're so worried. Frankly, your views on the PS3 are a little misguided (I could name at least 5 AAA), but if you want to buy the 360, go for it. I'm enjoying Bioshock, and have no interest in Halo 3.

A new version has been rumoured to come out "within the next one or two months" for almost a year now. It was damn near confirmed that the new Premium with the HDMI would have the Red Rings of Death fixed, but turns out that was just another rumour.

I still think it'll be out for the holiday shopping frenzy, though.

There is something the PS3 can never hope to have that the 360 has in spades:

^ games.

But that's beside the point because people will buy the PS3 without any games just so they can say. "Dude, I have a PS3!"

LOL - Nah on the serious side, For the PS3 price, the 360 does very similar things. (except for Blue-Ray, but this is an unproven tech and not a sure bet).

@ Topic - Yep there is currently no way to tell for sure. At least not until MS actually announce which is what. Which they wont. The other option is to just take the chance and get one. Either that or wait till the entire current batch sells out and get one of the new batches.

only 2 AAA games on the Xbox360 side :

Bioshock/mass Effect

on the PS3 side :

MGS4/FFXIII

==> PS3 more expensive but at least it doesn't break, online is free, and it is a playstation.

as a bonus, you also get a job getting a ps3.

(people need to stop listing unreleased games... really) 

Games.

The 360 has 12 games with a higher Metascore than Resistance, 55 games higher than Heavenly Sword, 155 higher than Lair.