One thing the PS3 has going for it that the 360 does not is that online multiplayer is free for the PS3, but on the 360 you have to pay $50 a year for it (or something like that). But on the other hand, the cheapest 360 is $100 less than the PS3, so that kinda helps I guess...
Both systems are notorious for hardware failure, so maybe they're both about even in that respect. I know two people that have had their PS3 fail on them, and of course the 360 is notorious for that red ring of death crap. Nintendo may be "last gen" hardware, but at least its reliable and isn't notorious for constantly failing.