the only game i am interested in for 360 is Alan Wake, but that still probably wouldn't be a buy for me, just a rent. for me PS3 has my type of games and 360 doesn't. as for the reliability of the 360, i'm always paranoid about an investment of mine breaking, so i wouldn't really like putting money into the 360. and i don't think it's true that the new 360s are made better, i think they just haven't had the TIME to break, considering they're new. the low grade quality of Microsoft's system is one of the things that really turned me off to them when the next gen systems came out. and reliability of 360 aside, the value you get with a 360 will just never compare to that of a PS3. look at WiFi alone: PS3 $299, 360 $299; PS3 WiFi enabled, 360 not; WiFi add-on for 360 $99. not to mention bluray. To me, i am turned off to supporting a company that makes a cheap product, especially a company that is supposed to be reputable. hopefully this doesn't start a flame war, bc that's not my intentions. when the next-gen consoles released, i was in favor of microsoft, but when i compared the 2 systems without bias, to me sony won (and wins) hands down.
butttt...if u really want to play their exclusives, and have the money to throw down, then it's your call. i just think it's ridiculous to say that the 360 is now as reliable as a ps3. i read gaming news on a daily basis, and i think that if that were true, microsoft would really be pushing that idea. but they haven't, just as they never have, because it is a blatantly false statement. so i think you will still run a high risk of the system breaking down on you, but you gotta weigh your pros/cons. good luck with your decision dude.