Your thread title is kinda confusing. I don't think it's fair to say the PS3 is the new Saturn/Dreamcast.
First of all it has already sold twice as many consoles as the Sega consoles did and Sony has far more resources and capital than Sega ever did to support it's gaming division.
The Saturn ports of the PSOne games were clearly inferior while the PS3 ports of Xbox 360 games are inferior in small ways while some games the PS3 had the lead development and (again in small ways) it showed. The Saturn was rarely the lead development platform and when some Saturn games were ported to the PSOne, the PSOne version actually looked better. The PS3 is like the Saturn in that it is more difficult to program for then the competition.
The Dreamcast used GD-Rom not CD's and unlike the Saturn was easy enough to programme for. Remember the Wii uses a optical DVD and is a huge success. I'm not sure where you get your information as I don't recall software companies having problems with the PS2 using DVD. I thought they lapped it up as they did CD's in the generation before (to replace traditional cartridge).
Time will tell whether the PS3 will pull back it's market share and whether the Blu Ray drive will have a significant impact on PS3 sales. Sony plan to make the PS3 a 10 year console but whether it will succeed is an entirely different matter. It has never attempted that before and previous generations are replaced every 5 odd years.
