Wait 6 months I reckon, if at all. Got a dual core PC at the moment so could use less that half of the PS3 price to SLI my graphics and get another 7800gtx.
Sony are stating that they have to charge this price because of the high price components and that they'll even make a LOSS on the system itself and recoup it on the software, hence the high game prices. Not impressed myself though.
They'll sell well though no doubt and leave parents feeling the pressure of their offspring come xmas.