Get a 360! I have had mine for 1 1/2 years with no red death. There are tons of must have games: Bioshock, Halo 3, Mass Effect, Gears of War.

I can't think of one game I would want to have for the PS3, maybe Metal Gear Solid 4, but it's not coming out til mid next year, and by that time it will be announced it will be out for 360.

Another thing that many people don't know about the 360 is that you can make custom soundtracks for games. There's nothing more BAD A.S.S. than playing Gears while bumping some AC/DC.