I promised my husband on for christmas, the price and the lack of games turns me off but I haven't heard anything bad about it.
I want a 360 but I'm waiting until they work the bugs out a bit more on that, not to mention it really irks me that they refuse to completely disclose the other common problems that people are having (beyond the red ring of death).
I also want a Wii but that will wait. We currently have a PS2, Gamecube, Dreamcast, PSP, GB Advanced... that's plenty for now.