Lets start on what it will come with. And this is by far everything, but a pretty good overlay of its capabilites.
Features: Basic
-Interactivity with the PSP, which includes using it as a remote for DVDs, music, videos etc. Or as a portable storage for the PS3 which may include PS/PS2/PS3 game saves etc, or as used interactivily in games. Such as being able to use it as a rear window view on a car-based game. And thats not even the slightest it can do with the PSP. There is so much more. Also you can access the PS3 wirelessly from the PSP and view videos, play music, photos anywhere in range of the PS3.
-Uses Blu-Ray disks for games. Which means the game devolopers can pack more game on these disks. And not to mention you will automatically have a Blu-Ray player.
-The miriad of things to use on its classic XMB interface (as seen with the PSP) Which includes viewing videos, music, photos, browsing the internet, browsing through files found on USB devices, Ipods etc.
-Can play: BluRay-ROM, DVD-ROM, CD-ROM, SACD, Playstation 2 games, and Playstation 1 games From the disk reader.
-The ability to use USB devices and connect them directly to the PS3 for file transfers or any other type of communication. And all this is done with ease, just like a computer, you just plug and play. As for example, plug in a I-pod and tranfer music files, video files, to and from the PS3.
-Almost no limit on reso on videos. If you wanted you could put a full resolution HD movie at 1080p (1920x1080 progressive) on the PS3's hard drive, or through one of its various memory card readers. So you can watch full reso-movies any time you like, basically wherever you like.
-Almost no restriction on multimedia. If you want mpeg1, go for it, if you want Mp4 go for it, mpeg, yup.
-The PS3 Has HDMI output, for full HD resolution for your LCD, or Plasma TVs. It also can have Coax out, and S-video out.
-The PS3 lets you choose what resolution your games are put out on. 480p, 480i, 720p, 1080i, 1080p.
-Not only does the bottom line PS3 come with a 20 Gig harddrive, but it has the option to addon whatever third party hard Drive you want, It doesnt have to be from Sony. And it can be of any size.
-A bunch of card readers. Memory Stick, SD and Compact Flash cards. And the ability to go through directories on them, just like a computer. So if you have music somewhere on a USB flash device, well, go into its directories and find it!
-Wireless bluetooth technology. Which you can use various things to interact with it. Like headsets, and of course the PS3 controllers will be bluetooth. AND can have up to 7 controllers at once on the same system. There has been cases of Blackberries communicating via bluetooth with the PS3.
- On top of the PS3 controllers being bluetooth, they also have whats called SIXAXIS. SIXAXIS features tilt technology that works with six-axis of freedom (roll, pitch, yaw, X, Y, Z). This means that it'll recognize any angle the controller is situated in, allowing you full 3D control over the orientation of an onscreen object. The first game shown utilizing this technology was Warhawk -- where rather than using the analog sticks to fly the ship, its yaw and pitch were controlled by simply tilting the controller. And all of this on bluetooth has 30 hours of pure gameplay before it dies. And if it does, well simple, just plug it in with USB and your ready to go again.
-The PlayStation 3 features a gigabit Ethernet port, and the 60GB version will also have 802.11b/g wireless functionality.
-Cross Media Bar (XMB) as seen on the PSP. Which in my opinion, is a really cool layout.
-Complete online interfaces, Browser, PS# online gaming, PS store, and much more.
-Motherboard/processor: 3.2 GHz Cell Broadband Engine with 1 PPE and 7 SPEs (It has 8 Processors in paralell. Your average home computer only has one processor)
-Has Wi-fi, bluetooth, and Other wireless connectivity options.
-With bluetooth controllers, you can use 7 of them at once on the PS3.
Ok, now lets consider the Blu-Ray player.
Blu-ray: The real price
Lets just put it this way. If you want to get a good blue ray player in the near future you may be suprised. A good Blue ray player has been seen in prices up to $1000 +.(Confirmed HERE at $1,300)
Now considering the PS3 has one built in, and with the PS3 other capabilities itself..its actually a dam good deal. Your already saving 400$, and not to mention you will have a gaming system with tons of other features.
Id say the PS3 for what it has, is priced at an excellent deal..and others who are into technology will see this as well.
So as you can see, the Blu Ray player alone costs roughly 1000$, and the PS3 is only 599$ And even at this point in time the lowest costing BLu Ray player is about 799$..And not to mention the Ps3 incluces all the things it does. And even with that its priced 100$ below a cheap Blu Ray player.
Pretty dam good deal if you ask me. They are actually charging less, the PS3 games will be at roughly the same price of a single Blu Ray disk, which will cost (as like in a movie) at about 89$. So if you think the Ps3 games are expensive..just wait until you want to buy a Blu Ray movie..it will cost you the same exact price.
Now for normal times, like today, your standard game is about 50$ for a DVD. While standard DVD movies run at about 20$. So for movies its usually cheaper. Well, the PS3 games match the price for a Blu Ray movie...thats as if your PS2, Xbox etc games, brand spanking new, only would cost you 20$!!!
You see, the PS3 if far from a rip off..in fact you should be paying more than double of its retail cost to be accurate on its specications.
Overall
Ok, all of this is just icing on the cake, I didnt even begin to scratch the surface of what the PS3 is capable of doing. And not to mention is really a better price that you think. Just as I said above, the Blu-Ray player alone should bump the cost of the PS3 up at least 1500$. But its not, its all the way down to a cheap 599$ and 499$