Having to keep your 360 in a mini fridge doesn't exactly sound very cool, er... I mean, impressive of the xbox360 itself.
Okay, I watched videos on HD upgrades on both.
Its quicker to upgrade a 360 to either (A) had a HD or (B) upgrade to a 120GB model for $150~180. OUCH!
The PS3, you can buy a 2.5" 500GB HD for $80~110. It doesn't have a simple release CLIP, but how many people spend a lot of time replacing their HDs on a console? So the PS3 requires a screw driver. This adds about 1-4 minutes to change the drives.
While the PS3 doesn't have a special cable to transfer your data from OLD to NEW drive... the PS3 does HAVE a built in Backup tool. (Apparently none for the 360... without MODDING it and using a computer).
With the PS3, plug in an external USB drive (FAT32 ugh) and the PS3 will save all your data, account, etc with a few clicks. Even more than 1 save file can be made.
Then from the back up, you RESTORE to the new drive.
I think that is BETTER as you should have a backup of your games/downloads and videos anyways.
Then.. after changing out the drive on the 360... either stuck with a useless 20GB drive or sell it to someone who HAS NO HD for $50. With the PS3 HD, the drive can be reused in a notebook or as an external backup drive.
BTW: watching the videos... Man 360s are Looooooooooud.