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PS3 will sell for at least another 3 or 4 years. I believe PS3 and XBox 360 will leave the console generation at the same time in 2012/13 when the next consoles have been launched and are into their second year.

I am waiting for PS3 to fall in half of its current market value within 2 or 3 years time and then I will buy one for sure and most of PS3's top games will be out by then. $200 for a Blu-Ray/PS3 console would be a great deal.