I don't regret buying it in December 2007. It was a reasonable price, and already had some great games. The only thing which annoys me is the tiny 40GB hard drive; I really have to change that at some point.
No console could possibly be what the PS3 is now, at launch. Sure, consoles launch at $300, but they don't have the incredible exclusive and multiplat lineup that the PS3 now boasts.