My ratings for the consoles:
XBox 360- 4
Have to knock down a point for the hardware failures. I'm on my 5th system (only bought 2- launch unit and HDMI Arcade unit in Sept. 08) and that's just unacceptable. Only thing saving the 360 was the PAST lineup of exclusives and its online network blowing away anything else available. Also the controller is awesome for anything that doesn't need to use the D-Pad (old school arcade games/fighters.) Best lineup of games, and plenty of games available for under $30 new or under $20 used.
PS3- 4
Much more reliable system overall but older units are starting to fail. PS3 firmware updates are not an issue if you turn on the console at least once a week to check out the PSN Store (which updates around 7-8 p.m. eastern each Tuesday.) Biggest issues are SLLLLOWWWW downloads regardless of your US internet connection and almost all of the games having to install data to the HDD before you can play the game. Playing a new release can take anywhere from 1-20 minutes after insertion before you can play depending on the install size.
I think the PS3 is a 4 out of 5 now because its exclusives blow away the 360's lineup. All the 360 has left as quality retail exclusives are the Halo, Gears, Forza, and Fable series, Tales of Vesperia (in North America/Europe only), Lost Odyssey, and Mass Effect 1. 360 has no more retail exclusives left for 2011 and beyond other than Kinect games and Gears 3. The 360 does get timed exclusive DLC a lot, but it eventually comes out on PSN anyway.
The PS3 has a huge lineup of first/second party exclusive retail games (GoW series, Killzone series, Uncharted series, Sly Cooper Collection, Infamous, Ico/Shadow of the Collossus collection, Ratchet and Clank series, MLB The Show, MGS 4, Demon's Souls, 3D Dot Game Heroes, Gran Turismo, Buzz, MAG, Socom, Infamous, Time Crisis, and Heavy Rain) plus you have the Move lineup of games which I think is superior to the Kinect lineup when you factor in the games (Heavy Rain, Tiger Woods, MAG, RE 5 Gold Edition) that have patched in Move support already.
Also there are some third party games that have more content on the PS3 version (Batman: AA, Mirror's Edge [free DLC pack], Alone in the Dark, Dante's Inferno, RE 5: Gold Edition, MoH, and Dead Space 2.) Some would even argue that the Ninja Gaiden Sigma series are better than the XBox Ninja Gaiden games. If the L2/R2 triggers are an issue, I would HIGHLY recommend the $5 trigger buttons that slide onto the L2/R2 buttons. That eliminates 90% of the problems I have using the L2/R2 buttons on the Dual Shock 3.
If you're a casual game player or someone with kids that isn't going to be online each night, then PSN is ok because of the free cost, but you get what you pay for. XBL is a superior service, but you have to use it almost daily to get the cost-benefit vs. a free PSN account.
Also if you use your PS3 as a media hub (Play On software, Windows Media Center, etc.) then the XMB beats the layout on the 360 IMO. Also the PS3 is still one of the best Blu-Ray players out there and it's upscaling on DVD's is better than the 360 IMO. Also you can replace the HDD with any standard labtop sized drive vs. being stuck with MS proprietary stuff.
Wii- 1
My catchphrase on my podcast when talking about Nintendo is, "I didn't leave Nintendo, Nintendo left me," so I may not be the best voice on the Wii. That said, horrible online interface, only good downloadable games are pretty much only games from the last decade (Virtual Console,) tons of CRAP shovelware to sift through to find the few worthwhile games, motion controls being on everything when sometimes it doesn't need it, and the controller being uncomfortable to use when sideways (NSMB and Punch Out.)
A prediction I have for 2011 is Sega and Capcom are going to port their mature titles on the Wii (House of the Dead games, Madworld, RE: Umbrella Chronicles/Darkside Chronicles, etc.) to PS3 with the Move. We've already seen No More Heroes go exclusive on PS3 and Dead Space Extraction being included on the PS3 version of Dead Space 2.