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I could be wrong but I feel a couple other factors are in play for the underperforming GT5 preorder figures. 

First, the US economy is in the crapper compared to what it looked like when GT4 launched and the GT series did not have any real competition at that point (Forza was not really established). 

Second, I believe there was much more market penetration for the PS2 at that time compared to the current level of the PS3. 

 Lastly, the genre has died down alot since the days of GT4 (its a genre that just doesn't seem to offer alot of excitement to the newer generation of gamers).