I have both a ps3 and 360. I play my 360 a lot more, but then its only because that is the console all my friends have and so I play it a lot more simply to play them on LIVE. Both are fantastic consoles, I don't see why you have to have a favourite. Both noisey as feck as well, though I can't see why that should be of any relevance.
My 40GB PS3 is fairly quiet actually. 65nm technology and all that.