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for definitions:

less than 1M: flop
1-2M: disappointment
2-3M: moderate success
3-5M: really good success
greater than 5M: huge

i think LBP will sell in the 1-3M range.

edit: those are lifetime totals.  I expect this game to have a slower start but longer legs than typical ps3 games.  we'll probably have to wait at least a month or two to get a feel for what kind of legs this guy will have.