I have recently decided to trade in my 360 and get a PS3. There are multiple factors why I have chosen to do so, and I'll break it down as simple as I can.

Reasons for leaving the 360:

1. 6 consoles have broke on me, and now my 7th is starting to go just after 1 year (and that is playing all games off the hard drive)
2. Xbox Live is about to expire and there are rumors that the price is going up $10 soon.
3. Spent too much time and money sending off for repairs. Especially, the E-74 Error that was not covered in the warranty. If this happens in the auto sales industry they call the car a "lemon", and that is what the 360 has shaped up to be.

Reasons for getting the PS3:

1. Price. For $299 I get a video game console that already has built in wireless, a blu-ray player, and free on-line gaming. All this for $299.
2. Won't have to worry about replacing my console every 9-12 months.
3. They have a lot of great PS3 exclusives. I can also get most of them cheaply since they have already been out for over a year. Uncharted, MSG4, MLB: The Show, Demon Souls, Little Big Planet, Heavy Rain, and so on.
4. Flat out quality. Sony has always had a pretty good rep for making products that last and do their jobs well. At this point in my life I don't need more hassle, just dependable products.

This doesn't mean I will become a PS3 fanboy or anything like that. There are things I thought Microsoft did well, like Xbox Live was easy to use and worked well. Controllers were nice, and they had some good exclusive games (Mass Effect 1 and 2). Unfortunately, they just didn't take of the customers the right way from the beginning and still seem to have issues today. I'll take my good 360 memories with me and try to forget about the headaches.

+ 360 Moments : Playing Oblivion for the first time and seeing how beautiful the world looked. Taking a chance on Bioshock even though I had never heard of it (One of the best games ever). All Night Rainbow 6 Vegas shootouts with friends. Playing COD4 and being amazed how fun and realistic it was. Had a blast with ME2, but won't be able to beat the final installment in ME3.