I had a couple PS2s do the 'stop reading one media type, then stop reading BOTH media types'. I currently have the slim model which is omg of course. Hardware rocks after its been tested 5 years.
My first launch PS1 had to be flipped upside down to avoid skipping out of the box (a common problem) and I had a second unit that gave up the ghost but lasted a while before I grabbed the PSOne which was pure refined sex.
I had two Dreamcasts go on me, I was so worried I actually stocked 4 back up dreamcasts, but eventually sold them.
I've had one Xbox die too.
In short, the X360 with its one replacement is still doing pretty fuckin well.
The X360 does have downright laughable BC, and granted, if the PS3's BC sucked id be up in arms. The difference is of course that I own 15 X360 games and 20 XBLA games.
I own 2 ps3 games and 2 'arcade' titles from the Sony Network. Ninja Gaiden Sigma will be my *GASP* third game.