I took the PS3 plunge in November and couldn't be more happy with the purchase. Especially now that HD-DVD has offered it's unconditional surrender and ended Format War II. I started a Netflix membership the day HD-DVD handed over their sword.
The Xbox360 crowd is going strong with great exclusives, but I think most of the kids/teenagers that were going to buy the bluray-less console have already done so.
2008 looks like the year of the PS3.
One fringe benefit: it looks like the PS3 is attracting the most mature gamers. A HUGE plus for the online experience. The console might not sell as much software because of it, but I'll gladly take the tradeoff. Almost everyone I play COD4 with/against sound like they're well into their 20s or 30s.
Enjoy!!
Oh - the biggest fringe benefit: the bluray player is phenomenal.
And if you plan on hooking up the PS3 via HDMI, get the cable at
monoprice . I got mine for less than $4 delivered. It's the exact same cable they sell in Circuit City and Best Buy for $60.