PS3 is rather disappointing so far.
Wireless connectivity has issues with many routers. Pretty poor job by Sony in making it very compatible. On my old router the only way it would work was if I turned off all security, like I'd ever do that. It didn't even work when it was wired to that router. That router worked fine with everything else, PC, laptop, Wii, Xbox 360, and PSP, just not the new super duper PS3.
Then there is the PS2 games looking horrible problem. This may or may not be resolved. Even if it is resolved, it's a bad job by Sony not having it ready for launch. They had a major delay waiting on Blu-Ray parts, they had plenty of time to fix this...if they can with software, it better not be a hardware problem.
There obviously are no games, but everyone knows that and will just have to wait.
The main screen isn't anywhere nearly as user friendly as the Xbox 360, and it looks a lot worse. Using the PSP format is pretty weak when compared to the blade system on the 360. It just seems very sloppy. Overall, it's just unpleasant to look at. The Playstation Store isn't that great either, and I have a lot of problems where I'll click to go to something and it just sits there until I click on something else instead.
User options are pretty limited at this time as well. Hopefully they will get better with more updates, but right now there's not much.
As for Blu-Ray, so far it's been disappointing to me. I've only seen 2 movies so far, World Trade Center, and X-Men: The Last Stand. While WTC was ok I guess for the type of movie it was, X-Men was very disappointing as it had a ton of noise in the picture that is very distracting. As I've searched on the net I've found that isn't because of the transfer, but because that just how the movie was done and they wanted to keep it that way. Not a good choice IMO. I have Invincible ordered and on it's way, hopefully it'll be an improvement. So far I've been very impressed with HD-DVD, but not yet thrilled with anything on Blu-Ray. There's gonna be a lot more movies coming out on Blu-Ray though, and not really anything else for HD-DVD (except Clerks 2 which is coming with Invincible) that I want for awhile.
So, really right now I'm not enjoying my PS3. There are no games, and the 2 main reasons I got it now, Blu-Ray and to play Final Fantasy 12, are not that impressive or don't work right.
I realize it's early on for the system, but for being higher priced, and having a lot more time to get ready, the PS3 pales in comparison to the Xbox 360. And yes, that's even compared to when the 360 was launched. It was simply much better.
Now I'm off to go play Zelda on the Wii.