About the Playstation 3

I started a new thread to answer Gary's question because it was getting a bit long.
The PS3 is expected to be awesome but there are drawbacks:
1 - It's freaking expensive!
There are two versions priced at $499 and $599 but the cheaper one can't be upgraded to be like the more expensive (unlike Xbox).
2 - Good luck finding one.
Massive production problems have taken their toll. Only 400k units are expected to be available at launch in the U.S. and Europe will not be getting them at all for a while (they were promised a concurrent launch originally).
3 - There will probably be quite a few bad units at first.
Some industry insiders are expecting alot of defective PS3s at first due to problems manufacturing the "Cell" processor. This is also the reason for the limited quantities. To compound the issue, if you do manage to get your hands on one and it breaks, there won't be any available to replace it under warranty for months.
4 - I don't see any compelling reason to deal with that when you can get an Xbox360 right now.
The PS3 has a couple advantages but they are minor and not worth the wait in my opinion. The biggest of those being that it plays Blueray. Problem is, that could end up being a worthless feature. Until we see which standard (Blueray vs. HD-DVD) becomes dominant, it's silly to put money into it. Blueray could end up being the next Betamax and Sony has a bad history of choosing the wrong side. Xbox360 has an HD-DVD upgrade for $200 that I will buy someday if the format wins.
Another advantage of PS3 is motion sensing controllers but it is yet to be seen if there is any real value to that or if developers will even take advantage of it.
The best excuse to choose PS3 is if you have a fondness for one of Sony's exclusive IP's like Metal Gear or Resident Evil. Then again, Microsoft has a couple of those too.