Don't forget Sony is shipping the PS3 to Europe in March. They would be stupid not to ship at least 2 million at launch.
Even if Sony is able to ship 2 million consoles at launch to Europe I don't think PS3 will sell through that amount to customers in a short period
Remember that Sony will ship only 60GB models to Europe. This one will cost 599â‚¬ Euros which are about 773 US Dollars. IMO that'll be a big obstacle to overcome even for the enthusiasts.
And for movies on BluRay, I don't think that'll be a big factor in Europe when you look at the average price for BDs:
Its about 42 Dollars on Amazon.co.uk and 43 Dollars on Amazon.de (Germany).
Maybe the prices will drop a bit until March but I don't think it's going to be that significant to make BluRay-movies attractive to customers. Especially in Germany where "stinginess is wicked" is a slogan of one of the biggest retailers.
But let's just see how the PS3 will perform in Europe after it's launch