I'm a 360 Fanboy, so I'm ready for a nice debate.
Yes, the #1 issue with a 360 is the RRoD, but Microsoft isn't deaf and have a 3 year manufacturers warranty with this issue and a 1 year without. Microsoft shipped the 360 out prematurely to get it on the market before the other next-gen consoles and sacrificed this.
Online capabilities of the 360 (Xbox LIVE) truly stomp out any of the next-gen models on the market today, which is why you have to pay $50 a year. With some of the latest additions to the 360 dashboard, you can stream NetFlix directly through your 360... PS3 nor Wii can do that.
Next up in-line, video quality. I'll hand the PS3 the Blu-Ray technology and would purchase one myself just because of this feature, but the size of the machine had to have been affected by trying to cram as much HD goodness in their as possible. The 360 games still do have HD games and videos and an average user probably won't be able to tell the difference between to two, and for a lower price, why not settle for the 360?
Exclusive titles. Yes, both consoles have their share of exclusive titles, so this should only affect you if you've been a massive Halo or Metal Gear Solid fanboy. The consoles themselves shouldn't be affected too much from the exclusive titles.
*Sorry if this is considered necro-posting. I cannot seem to find the rules around here...