I agree with UnluckyOne. No one does something right for the first time, especially if it' s a brand new thing/design like a console. My cousin has a Black Xbox, forgot what version, and I have a green one, it' s newer version and has a diff HDD. His has more problems than mine.
The xbox 360 is running hot, but then apparently it cools down, just like any machine, just like cars, they heat up, then the fan comes on for a while and it runs " cool" for a while. Im sure MS knows/knew that some 360s would have problems with the cooling and things like that, but they probabily realised it when it was too late to go back and redesign the 360 case in order to fit a better cooling system. I' m sure, like UnluckyOne said, that later versions are gonna have better parts, better OS which maybe will optimise the system, making it run more efficiently, and they might even make a smaller AC adaptor, which I think is totally possible, or a third-party might make one. The noise problems, well, that' s a little harder to fix, but if I' m playing a game, I really don' t notice the noise at all, and I' ve had an Xbox for like 2 years now, I know what noise is (man that thing is loud, especially at night when im watching a movie on low volume)
PS3 I think will have the same probs, cuz from the looks of it, it seems about the size of the 360, and if it' s true that they are in fact having a lot of problems with the cell processor overheating a lot, then it won' t be easy for them to fix it without sacrificing size. Anyhow, just put the console inside a pillow and problem fixed!
BTW, have u guys seen the pics of the 360s they are selling in Korea??? they looks soo good, their cases are modded, they have designs, one of ' em has a soccer design and the " Ring of Light" with the logo on it has been replaced by a soccer ball (well, half of it, LoL). I' ll try to find the pics again and post them here.