My xbox has never died, and I've put some HOURS on it. Hundreds. Party Chat (they don't have on PS3), better online quality (from my experiences), etc.
People always talk about Red Ring, but the fact is that the problem has been fixed, for the most part (of course, that's not true for the old consoles, but that's because they're old.)
Also, PS3s die, too.
Opinions.
Why wouldn't it be?