Nope, mine is almost silent. A tiny fraction of the noise my XBox 360 makes. Not sure if my XBox 360 has a fault or if that's just the way they are, but it makes a noise like a jumbo jet taking off. Again, I'm not sure if it's an issue, but my PS3 is lying down and my 360 is standing up.
Considering Sony has a track record of making electronics that either fail or explode due to over-heating, I'd probably be a little disturbed if I didn't hear some sort of cooling fan running in ANY processor heavy electronic device manufactured by them.
I'd lie your 360 down on it's side if I were you. Not to improve noise, but it's been pretty well documented that an upright 360 will scratch your media.
Imagine if the PS3 came with a laserdisc player, would that be worth it? Blu Ray is still quite in danger of becoming the next laserdisc.
I've heard speculation that it'll be around for 5 years at best before something else attempts to take over the market. Then again, I think there was a similar mindset about DVD when that was introduced.
Even if Microsoft comes out with a Blu-Ray add on, it will be nearly impossible to match the price of a PS3. Plus, since all PS3 games are on Blu-Ray Disc, there is the potential for storing nearly 10 times more data.. As more developers learn how to use the PS3's incredible hardware, Microsoft will rapidly lose ground, graphics-wise.
Rumor has the so-called BRD add on in the $100-$150 area. Considering the low-end XBox is less expensive than the Wii, an extra $100.. or even $150 still makes it a bit less expensive than a PS3.
Microsoft is already working on the successor to the 360. By the time PS3 gains momentum and becomes the "winner", Microsoft will have a new console out that will over shadow their success. Just like they did with XB360 over PS2. And considering it's worked out pretty well for them, I'm surprised Sony isn't taking it more seriously.
If I were Sony, I'd have some sort of conversion kit that can upgrade your PS3 to a PS4 for a fraction of the price of a new console when Microsoft pulls out their new one. It would be a surprise out of left field that would put them on top again...