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I said this when the 360 came out, and I'll say it again, they should have waited and spent the extra time making sure that the console was ready to go out the door before releasing it. Instead we got a system that had a 16% launch failure rate, noisy as hell fans, crappy cooling system, and who knows what other corners they cut just to get it out the door... and they didn't even have all that great of games for launch that you couldn't just get on the PC or original X-box. Where as Sony & Nintendo might have taken longer, but their systems are much better designed.
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The PS3 is not better designed at all. My PS3 experienced the red light of doom in the second week of owning it. The PS3 is bigger then the original xbox for gods sake. Luckily, i didn't have to go through much hassle in returing it and getting my cash back as i didn't want another PS3 as their is no exclusive games worth getting in the near future. let's not forget that the PS3 has the worst batch of launch-titles ever seen for any console launch.
I've had my 360 since launch and i've yet to have any over-heating problems and the fan isn't that loud unless your television is on mute. I'm a little dismayed by the recent rumours about a better, sleeker, 360. Although, it isn't enough to piss me off as the main reason for owning a console is the videogames and so far i've gotten plenty of fun outta of the 360; more then any other console this year.
There's nowhere I can't reach.