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The problem is, if PS3 sales suck for another year, third parties are going to lose (more) interest in it, and then who's going to want to buy it even at the same price as Wii?

PS3 would definitely be selling better if it was cheaper - but the $300 pricepoint is at least a year away, more likely two years. In that time we'll see MGS and Final Fantasy and Gran Turismo, but history has shown that a few mega-exclusives won't save a console (N64 and GameCube).