VALUE!

Author's Rating:

Pros: Blu-Ray Player built in, fully customizable, great library of exclusive titles

Cons: Long update and install times, lack of online support

The Bottom Line: 
I'd say try to play some of the exclusive titles before you buy the PS3. A lot's going to depend on if you like them or not.

Author's Review
The third installment of Sony's home gaming console series is the PS3. Packed with so many features that the casual owner has no idea what they can do with their system. The PS3's most incredible quality is that you can fit it to match your personality. You have the ability to change the on-screen appearance of the XMB (Cross Media Bar), sync up your blu-tooth headset to use online, upload your own personal photos and videos, and add your friends to chat with when you're not playing a game. Sony has used the same control design since the PS one so the controller feels very familiar. It's not too big, so children can also use with ease. The 120gb hard drive should last you awhile, though the PS3 uses a lot of memory when saving files. It has a built in wireless adapter for easy connecting to Sony's online store. The Online store has several original and classic games, as well as movies, tv shows, and music videos. The game library is full of highly rated Sony-exclusive titles, though some gamers are not impressed. The PS3 has a built-in Blu-Ray player, which on it's own is worth a couple-hundred dollars.
The one thing to be weary about when purchasing the PS3 is the time it takes to update the system and install games. The system updates at least one per month, and takes a significant amount of time, regardless of your internet speed. This can be annoying when you're set on playing your PS3 but then have to wait anywhere from 30 minutes to an hour to update. Most games must install on the hard drive to help with the load times. This can take some time to complete as well.
The PS3 is an impressive machine, but it doesn't have the same online support that you get with the XBOX. This is it's only drawback, in my opinion. Otherwise, I love my PS3 and enjoy playing it all the time.