There are a few things that are holding me back from getting a PS3. Granted, I have not kept up with PS3 developments, so some of my ramblings may be far off-base, and someone please correct me if I am. Anyway:
1. PS2 peripherals not working on the PS3. No beatmania + no Guitar Hero = no dice.
2. The lack of any quality games on the console. It's been out for, what, eight months? The only current PS3 game I can name that I would have any interest in playing is Oblivion, but I've already been playing that on the PC for well over a year (and it was $10 cheaper, to boot). As for future PS3 titles, I don't think I am looking forward to anything except Resident Evil 5, and that's probably a year-plus away.
3. The form factor. Honestly, why is it curved? I like components that I can stack on top of each other. Right now, I have my PS2 (US) sitting on top of my PS2 (JP) sitting on top of my CD player. And that all fits (barely) on one shelf of my entertainment center. A PS3 is considerably larger than a PS2, so it can't really stack it on top of a PS2, and it's curved, so I can't stack a PS2 on top of it. I don't like orienting my console vertically at all (and actually might not be able to fit it that way in my entertainment center anyway), so I will not be doing that.
4. Pricing of movies and software. I don't know who is going to win the Blu-Ray vs. HD-DVD battle, but either way, the prices that are being charged for these next-generation video formats is astounding. I saw "Children of Men" on HD-DVD for sale at Target, and it was $40. It seems like most Blu-Ray and HD-DVD titles are being priced at $30-40. I'm used to buying DVDs for $10-15 or less, and it's very hard for me to justify spending 2-4 times this much money for high-definition. Does anyone yet know what the long-term effects of high Blu-Ray usage are on the PS3's performance? After the PS2 had been out for a while, I started hearing stories about how people who used it mainly as a DVD player were experiencing high rates of system failure because the motor was burning out. Can the PS3 handle being a full-scale Blu-Ray player? Similarly, pricing games at $60 was inevitable at some point, but it still makes me balk nonetheless.
5. I don't like the idea of my PS3 having wi-fi access. I just don't trust Sony to make changes to the system without my knowledge or approval. Is there a way to shut off the wi-fi access or restrict it so that I would have to approve any incoming transmissions?
6. Am I the only one that doesn't see the point of wireless controllers? Is it that hard to deal with a cord? Do they even have corded PS3 controllers?
7. No pretty colors yet for the console. I really like my Sakura pink PS2 and my metallic blue PSP.
With that all said, it sounds like Sony is crippling the console for the future, and I'm probably going to have to get it at some point, so I might have to strike now. I don't like it, though.