If your worried about reliability, while the 360 does have a high fail rate, it is covered for 3 years from th3 "3 red rings" issue with a 1 year warranty on everything else, the PS3 has a 90 day warranty, and a friend of mine who owns a game store has been doing a lot of repairs on PS3s with laser issues and not reading discs. I used to work in video game retail as well, so I know a lot of information first hand on system issues and warranties.
Also, anybody considering a 360 vs PS3, if you have Netflix, get a 360, later this year, you will be able to stream movies from Netflix onto your 360 just like you currently do on your PC.
Anyway, no matter what, both systems are good systems. PS3 started slow, because developers had issues working with it, which is a reason why game selection is lacking but the built in Blu Ray and wireless connection are nice features. The 360, while it gets bashed because of the system failures, has right now a much bigger selection of exclusives and highly rated titles, and it also has a good amount of casual games, so the married guys can convince the wifey a little easier to let them buy, with games like Scene It and the Arcade which has almost anything you would want, casual stuff like Zuma and Bejeweled to classic stuff like Pac Man to original stuff like Geometry Wars and Braid. PS3's online from what I hear isn't as good as 360, and to me online play is important.