IMO from past experience -
the only company that makes flawless trouble free consoles is Nintendo. Their cartridge systems have survived floods + hurricanes.
(although bricked Wii's from system updates is now an issue)
Didn't have any problems with my original Xbox but my 360 did RoD around the 11th month. No worries though, it was repaired and shipped back at a $0 out of pocket cost to me. Other than being without the system for a week, I have no problems otherwise.
I also got hit by the faulty lens assembly Ps2 problem on my (near) launch Ps2 system. Initially I was told it would be a $150 repair until I complained to a Sony rep about reading online about this issue and was told "don't believe what you read on the internet, we'll repair it for free since you're a VALUED CUSTOMER".
So far...no problems on my slim Ps2 though.
If I have a console problem and it's fixed for no charge, I won't complain too much since I have other consoles and other toys to play with.