Three reasons it won't:
1) Wii Supply to increase by 50%, families don't have to settle for 2nd choices.
2) Similar library on the $200 Xbox 360
3) The world is on the brink of a depression. $400 consoles, $60 games, $40 movies are more unattractive than ever.
Prediction: PS3 will finish in a familiar 3rd place this holiday.