I got a 360 in December -- first console I've owned since the original NES -- and am enjoying it. I'm not using the online play, nor HD (though it is hooked up to an HDTV ... I don't want to spring for a second cable, or swap the cable box back and forth).
I only have a few games to this point -- finished Halo 3, and am currently rotating between Oblivion and Mass Effect with periodic side trips to Forza. I really picked it up for the shooters (Halo 3 was perfect, as far as I'm concerned) and Forza (great with the wheel, and another hobby of mine is tracking my car, so this is off-season practice), but the RPGs have been enjoyable too.
YMMV. It got to the point where I couldn't quite get the games I wanted for the PC, and the 360 seemed to have more of what I wanted than the PS3. But if I were interested in a different set of games, the PS3 might have been a better choice -- I think it depends on what kind of games you prefer.
Edit: I should point our that a big part of my decision for the 360 was driven by various driver reviews of Forza 2 vs. Gran Turismo, where it seemed the Forza physics engine was better regarded by folks with actual track time. The upcoming GT release could change that, of course.