Most things have teething problems when first released but MS has let it go on for too long. Sony may have also had a few hardware failures but as you said they are probably less then MS, also consider the fact that Sony have been in the Console business a lot longer then MS have so they know how make them, all you have to do is look at the success of the Playstation series.
I've got until next March store warranty so I'll get a jasper me thinks. 
