I agree here. The price has always been the issue. I think the PS3 is a better console. Not hugely, but there are a couple of nice features there. The new R4500 unit is very, very tempting to me (I don't have any PS2 games), although I still think it lacks a good line up of exclusives. If I went and bought one now, all I would buy for it is Resistance. (Sorry abev, my opinion). Thats why I think the time to watch out for the PS3 is mid to late next year.
The Wii however, is the devil incarnate. It's the George Bush of the console World. Ugly, dumb and lacks the ability to do the job, but still wins because of novelty value.