Yes, it's true.
I actually did it forever ago (When I got my PS3, November 4, 2008, also the day the first black president was elected in the United states, seems like a very important day...).
I just couldn't bring myself to keep it any longer. I didn't touch it for weeks after I got and beat MK Wii and got all the characters on SSBB. And with no real prospects coming this holiday that I wouldn't rather play on the 360 or PS3 over the Wii, I traded it in.
So... yeah.