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
Well I am from Europe ,in Spain ,and I can say you the Blu Ray movies are at the exact same price as the HDDVD ones ...and thats 24 euros not 42 .Already in the shops and at that price not more not less .
There are many people waiting here for the Playstation 3 and that have had many time to put apart money ....sales will be good even with the high price tag .Besides ,it remains to be seen if only the 60 Gb console will be released here .