I am now without a console, and am planning to sit out the rest of this generation. That could change, of course, but for the immediate future I'm not getting back in.
My friend has my 360 - I hope he enjoys it. I've found new homes for pretty much all my games and my stick. And I feel good about it.
Was the 360 a good system? Yes, it was. I did enjoy gaming with it. But, looking at things I noticed two things.
1. Consoles are social gaming for me. Simply put, I don't really have much in the way of gamer friends here, or I go to their house with other friends. I like on-couch multiplayer far more than online multiplayer.
2. I've more or less have gone back to PC gaming for now, much like when I was in college. With the number of console to PC ports, I'm good for a fair number of games. With Steam, Games for Windows and Impulse having regular sales? I can often get great games on the cheap. Also, there's no worries of me losing discs anymore - I can just redownload if I need.
Would things have been any different with the PS3? Honestly, I don't see why they would be. Game quality wasn't an issue for me. Graphics weren't, either. Exclusives? Not a biggie - most exclusive games don't have much appeal for me. I am equally unenthusiastic over Halo as I am Metal Gear Solid 4.
Certainly, both consoles are great, and have grown considerably since 2005 and 2006. But right now they're not doing it for me. It happens. So, for now, I've moved on. Will I come back to console gaming? I don't see why not. But right now I don't see any real reason to invest into it right now, either. I know that even the high and mighty PS3 and 360 Elite will be $99 one day, after all! Prices reward the patient ;)