We have a wii, ps3, and a 360. We got the 360 at launch and had to send it back after a year and a half (but we had three people logging over 25hrs a week A PIECE on Oblivion for about a month and a half, so i think that had something to do with it). Since we got our new one from Microsoft we've had no problems. The newer models are always a far sight better in performance than launch systems, so i wouldn't worry too much about it dying.
Now that it's been a while since the ps3 was launched, they had a TON more problems with their launch units than 360, but they've mainly worked out their bugs too.
Wii never had any real system failures that are noteworthy, some people's had a problem spitting disks out and stuff, but Nintendo is really good about replacement units.
As far as games go, 360 has a lot more shooters/action games and most of them are multiplayer, so that's a plus for some (like DH and myself). There are some decent RPGs on the 360 now, ALL of Square Enix new RPGs are on the 360 (star ocean, ffXIII etc.). Capcom is making games exclusively for 360, which include Dead Rising (zombie launch title), Street Fighter V etc. Plus there's Resident Evil 5, and Valve's new game, Left4Dead (more zombies!).
Other games like Tomb Raider and ALL the sports games are on both (if not all three) systems... Basically we have the ps3 for those odd RPGs and arcade games that won't come to 360 like the Pixel Junk games, The Last Guy, MGS4, Uncharted, Persona, Valkyria Chronicles etc.
Wow, i know way too much about video games