Planning to buy a new video console: Xbox 360 or PS3 Slim?

I know the topic's a bit passe, but I'm only now about to replace my old 2nd gen Xbox with a new video console.  Cost is not a problem.  Nintendo Wii is not going to be considered. 

So what are the pros and cons between the Xbox 360 and the PS3 Slim?  Is the "red ring of death" problem still pervasive with the Xbox?  The Blu-ray function on the PS3 is cool, although would hours of watching movies on the PS3 cause heat problems later? 

Thanks for any input, guys.

If youre interested in gaming online xbox 360 is the way to go but if you would like to watch a movie in better quality (blu ray is overrated in my opinion, if you have an HD t.v blu ray enhances the quality so minimally) then maybe the PS3 is the way to go. The library for blu ray dvds is not very large but is growing however overall the 360 is a better console even though you have to pay to play online. There are far more online users that play on the 360 than the PS3 

The red ring of death and overheating rarely happens and I tend to leave my xbox 360 for many hours and Ive only ever had one problem with the "red ring of death." Ive had a 360 for a few years now.

PS3 has better playability especially if you like sports games.

can you elaborate on that

I just bought a PS3, love it. One feature that is in the PS3's favor is the online gaming is free, unlike XBOX. 

the cost to play online is so insignificant..... a mere 55 dollars a year

I agree that the cost difference between machines is trumped by the Xbox's cost to play online.  My experience with the Xbox is that with games like Mortal Kombat or Tekken, or even NBA Live, the dual gear toggles on the front makes for very nimble controls, unlike that of the PS3's smaller controls.  Also, the Xbox is more comfortable for bigger hands.

Hey, that would equal one free game.Granted, it's not a lot of money, but it is also one less thing I have to deal with or annoyed by. 

i see what youre saying but its well worth the 55 bones

New X-Box 360 came out today, has wireless-N included, so no ripoff add-on wireless device needed anymore if you want wireless.  Also, some exclusive deal with ESPN content is coming for X-Box Live users as well (sounds like mainly ESPN3 content from what I saw).

From the looks of it, the new Xbox really isn't that much of an improvement over the old Xbox 360.  Sure, wifi's integrated, it has a smaller and more stylish casing, and the hard drive's not your off-the-shelf hard drive (so now we can't easily DIY an upgrade. BOO!).

yeah who ever buys the new xbox is wasting money because the "old" one is just as great.

Oh you are soooo wrong....You just have to know which ones to get. And the correct software

Really?  So which ones can be hotwired into the new Xbox 360?  And which software/where can I download it? 

Thanks for any help, Lipps.