yes, they increased the warranty period for RROD with 3 years iirc.
I had a RROD last year, send it back (had to print a UPS Label i got from microsoft, and the package was picked up at my door.) 3 days later I had a brand new xbox back. (even one with a better disk drive.) so I can only say 1 thing about the microsoft warranty, and that would be that its really well organized.
If I had to choose a console now, It'd still be the XBox 360.
I dont use Wifi myself, so that the PS3 has that doesnt help me in any way.
the Blu-Ray player, well, its nice, but dont play on a HD TV (at least, most of the time I dont, and the xbox can play games on HD resolution too. )
so If you already ahev a HD-TV with a blu-ray player, that doesnt make a difference either really.
Both are actually good consoles. i would look into the games you can buy for them.