It amazes me people are STILL bringing this up, it's only been over 6 years, right? If I didn't know better, I'd say you're trolling, but whatever - here's my take on this ancient debate:
1. I've had 2 Xbox 360s fail on me. The first one (bought March 07', 20GB model) accumulated a butt load of dust in the rear vent area, started overheating about a week after the year warranty went out (so, little over a year after I bought it) If I had known better I would have cleaned the crap out and played on, but hindsight's 20/20, right?
My second 360 was an Arcade model I swapped my hard drive into. I bought it February 2009. That one also happened to have a problem about a year after I bought it. (weird, huh?) The problem with that one? Disc drive stopped working.
My last 2 360s (both are slim models) are still working - I've had one for 2 years, and other for little over a year. The only thing that's gone wrong is the older one refuses to output via the HDMI port. Oh well. Microsoft really fixed all the crap that was going wrong with them, at least.
That being said, I'm on my second PS3. My first one ran fine for 4 years until I started having issues.
Are PS3s perfect? No. I don't like the fact I can't choose music and play it anytime I want, but at least I can use Netflix, Youtube, and other apps without paying. I guess that's a moot point because I'm paying for PS+ though.