Basically, yah that's the only diff is the card reader slot. I got a 360 because I have a card reader in one of my 3.5 bays and with the $30 rebate its like $50 bucks cheaper than the 370.
They're both good printers btw. I was sold on the fact that if you buy the ink online you can find it for as low as 1-2 bucks a cartridge compared to the $20-40 lexmark ink.