I haven't watched the video yet (not at home, 56k connection here), but I just wanted to say you guys shouldn't bash PS3. I mean, you can't say the past Sony systems haven't had pretty sweet games.
Also, I heard that Sony is putting something in there, so when you put your game in, it downloads it into it's hard drive, and you can't play it on any other PS3. Which means, you can't rent PS3 games or barrow one from a friend. And if your PS3 breaks, well, the game is gone (unless the hard drive is safe, you might be able to switch it with a new PS3's hard drive). Although, I also heard that Sony just put that technology in there for devolopers if they wish to do it like that. It's some what smart for the devolpers to get more money, so if their PS3 breaks they would have to buy the game again, or someone wouldn't barrow it from a friend and beat the game and not want to buy it.
I myself never buy systems right when they come out. I usually wait a year or sometimes two, for them to work out the kinks if there are any, bring down the price, and sometimes put pretty cool offers on them (like the LoZ collection that was offered with the GameCube for free, that was really awesome).