The way I see it, the PS3 may have good specifications and for a blu-ray player, its considered cheap based on current market price. Bear in mind though, that the blu-ray is a Sony technology. If Sony cannot convince the DVD and Gaming industry to accept blu-ray over HD DVD its likely that they will fail. Current trends suggest that HD DVD will probably win over Blu-ray. Seems like the VHS and Betamax war all over again.
Also if the installed user base is small compared to the current DVD format for games, Sony will again fail as 3rd party software developer will not invest time and money to develop games for them as it will cost much more to develop for a higher format disc. Like what is happening to the PSP, poor sales resulted in major movie producers pulling out of the UMD format leaving Sony only label.
That being the case, Sony could ended up having only limited games for the PS3.
The case for Sony currently is rather blick.