The PS3 is not under tracked. Wishing for it to be true doesn't make it so. Sony got hit with a combination of things that caused the PS3 to sell much less than anticipated:
Strong Yen: The strong yen dramatically cut down their profit margin. This combined with the 360 price cut reduced the PS3's holiday sales.
The Poor Economy: The economy going into the tank made a $400 PS3 too expensive of choice for many consumers when were $250 Wii's and $200 360's available.
No Breakout Holiday Title: Sony didn't have a holiday title that non-PS3 owners considered a must have. The needed a game that did what MGS4 did earlier in the year. I think this is largely to do with the strong yen/poor economy. If the economy hadn't tanked and Sony was able to get price the PS3 at $300 for the holiday season, I think Little Big Planet would have been that game.
Circuit City tanking: Circuit City is the second largest retailer in the US and they are currently in liquidation. They are shutting down all 567 stores. Several manufacturers got burned by this. Anything bought by Circuit City on credit will have to be returned to the manufacturer if it remains unsold. I wouldn't be surprised if a large chuck of the unsold PS3's and 360's weren't in their inventory.
