I shelled out 6 cnotes for that thing, but I knew exactly what I was getting and what I was getting it for. I wanted a blu-ray player, and the PS3 is one of if not the best on the market, as well as the cheapest, so with that alone I knew I was getting a bargain. when you add its other potential as a media station for your entertainment center with upgradable hard drive, I think it is a great little machine. Plus I can stream media from my PC wirelessly. I know that the game library for it sucks right now, but I think that will change with the most recent development kit they've released to game developers that will help them harness the machine's testes. And there are a few goodies out there, I have been playing the hell out of Blazing Angels, and there are at least 3 other games I would buy if I spent that kind of time and money on gaming.
I also think that a lot of people are under the impression that blu-ray and hddvd are evenly matched but that hddvd will become the winner of the format war. The fact is that blu-ray has nearly twice the capacity of hddvd, so it is the superior format, period. As far as manufacturer and studio support, it's nearly even, though blu-ray seems to have the upper hand right now.
Need more? Three words: Guitar Hero 3. Go get a PS3 now!