I have (had, traded it for my PS3) a large model PS2. It didn't tear up once. No blue disc problems or anything. Worked perfectly.
I bought a 360 at launch as well. I had two red ring on me. The second red ringed within two months. The problem with that is
1.) I'm poor
2.) At the time, Microsoft was being the biggest fucking douchebags on the face of the fucking planet by charging the $129 repair fee. It red ringed right before the Halo 3 beta.
Distressed because Microsoft fucked me over RIGHT BEFORE the fucking beta test for possibly one of two multiplayer games I've ever enjoyed for more than a month at a time, I fucking looked up how to fix it myself, and me and my friend fixed it in his garage last summer.
First of all, if I can fix my 360 better than Microsoft can refurbish 360s by fucking overheating it, that's pretty fucking sad. Not only that, the system was out for a year and a half, and they waited until after the fucking widely publicized beta test to instate the three year warranty. On top of that, when they had the one year warranty, they fucked over everyone who had their 360 serviced by only giving them one month like Microsoft did whenever the systems first came out.
As for Sony, I've never had one problem with the PS2. Of course, I know from working at GameStop that they fuck up, but not NEARLY as often as the 360s got fucked up. I've had so many dumbass customers try to return or trade in RROD 360s because Microsoft fucked them over.
So, this is why I basically play my PS3 more than my 360, even though I admit the 360 has the superior line up of games. You see, when I turn on my PS3, I don't worry about it fucking up ever. The fucker's a tank. I've never had one single problem with it. In my time at GameStop, I've only seen ONE dead PS3 come in. Ever.
So yeah.