I must admit that from the start, the 360 had a strong line-up of games, which brought me to buying one. There are definitely some good exclusives on the console.
However, I feel I paid way too much for what I get. It lacks built-in wifi, rechargeable controllers and the HDD is only 20GB. Worse even, the accessories are overpriced and you are stuck to buying only those and only MS's HDD will work.
Second point is that dreaded RROD. I've ran into this unfortunately once already and hope it won't happen again.
Basically, it has some good games but the hardware leaves much to be desired.
Product reviews by 'kyo28'
Microsoft Xbox 360 Arcade

Rating: 3 / 5
Value for money: 1 / 5

Rating: 5 / 5
Value for money: 4 / 5
Basically, the PS3 offers good quality for the price you pay. It comes standard equipped with everything you need (wifi, HDD, rechargeable controller) except for an HDMI cable.
This is basically the best blu-ray player on the market, always up to date meaning great compatibility. Playback of encodes is also the best for a console currently on the market.
Gaming-wise it was a slow start but it's starting to pick up steam now, even in the JRPG department with games like Cross Edge, Trusty Bell and the free online JRPG Angle Love Online.
The only thing I wasn't happy about is the lack of games in the first year but that situation has been adressed.