Xbox 360 or Play Station 3?

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I own an Xbox 360 and people tell me all the time that I should purchase a Play Station 3. I want to know some opinions from owners on both sides. I have not been playing my Xbox lately because I have been working on some online money making but it is otherwise a big part of my comunications with friends. If you do not know how an Xbox 360 works I will tell you. It is a game consol just like any other you can play video games alone or you can play online aginst other people. Online is great because it is a new experience because you never know what other people are going to do. You can also talk to other people through a microphone. To play online you need Xbox Live. You can purchase this at stores for about $50.00 for 13 months and in my opinion is well worth it. On the other hand Play Station 3 is free to play online, as far as what people have told me. People have alsotol me that there is a 40 percent chance or an Xbox 360 breaking. When the break they get a thing people call "the red rings" and you usually have to send out your Xbox 360 to Texas with I think with $100.00 to have it fixed or replaced. In the year and a half that I have had my Xbox 360 it has not broken or even over heated. I would really like to hear more about the Play Station 3.