The PS3 is Sony's third console in its hugely successful line of PlayStation gaming.  The system is well built from the inside out. You can tell Sony built the system with utmost care and craftsmanship. There have been very little reported cases of systems problems or technical issues.  The graphics on this system are stunning. They take advantage of the Blu-ray format to produce visuals that are a lot better than Playstation 2's. Although the Blu-ray discs are expensive, they're well worth the money, especially if you have a high definition TV.  IMHO the PS3 far surpasses the Wii and XBOX 360 in terms of sheer power and technology.  The main concern I have is the lack of a "must have game". 

The PS3 has a ton of potential and will most likely win out in the battle of the consoles... but the bottom line right now is that the system is  lacking the "must have game"  that it needs to gain widespread support from mainstream gamers.