There isn't really anything wrong with the PS3. It's no longer overly expensive with the new $399 and it's a great piece of hardware.

It's biggest flaw is it's software. The PSN doesn't compare to Xbox Live and it's lacking alot of great exclusives. That being said with games like Warhawk, Uncharted, and Racket and Clank all having just come out the system is in a much better spot now than it was when it launched last year.