Dead console list:
Original launch Xbox died within 2 years, DVD drive failure
Xbox 360, 3 of them died within a year of buying them, including my Halo Reach 360 I paid $400 in November of '10. The one that didn't die on me I sold within 6 months of buying it.
Launch PS3 60gb died 2 years ago and I paid $100 to get a refurb slim back from Sony when I sent my 60gb in for repair, which is a total ripoff and means I basically paid $736 for a non backwards compatible slim with a barely bigger hard drive. Lame.
Never had a Wii die on me out of the 4 that I've owned. My launch Gamecube survived 3+ years until I sold it. Never had a Gameboy or DS/3DS die of anything but careless kids dropping them.
The obvious conclusion is if you're still a serious "hardcore" competitive gamer you should probably just build yourself a gaming PC because the first one I ever built (for BF2 before it launched) ran for 6 or 7 years before it died and I barely even knew what I was doing. What this tells me is that this country didn't send all the manufacturing jobs to other countries for better build quality, just for cheap slave labor.
If you are over the whole serious gaming moment in your life then I would highly recommend just getting a Wii U when it comes out. It is most likely to last 10 years and it should have all the major releases and online play plus all the elitist douchebags that call it Nintendo consoles a kid's toy will refuse to play on it, meaning about 90% less cheaters right out of the box.
I do not work for Nintendo, I am just sharing my experience and opinions to hopefully help people make the best decision for themselves.