i had a 360 for 2 years, and i got the red ring pretty recently. i used to play cod and guitar hero soooo much so i dont think the 2 - 4 hours effects me... i work on xbox 360s at work 8 hours a day, and i dont hav any problems with mine.
something that i noticed about 360s that red ring are that ppl move them... dont move ur 360 around.. choose where to put it and PARK IT.
ps3 is better hardware than the 360 and the multiplayer games on 360 are ranked higher than those on ps3. ps3 is perfect for the players who love RPGs and want the best graphics for their money. 360 is for gameplay and multiplayer loves such as myself. i have both, i have worked on both, but i prefer cod, 360, and the arcade games on 360 than the platform specific games on ps3
note: MAG for ps3 is awesome =p.