Short answer: if the format war is decided within the next 12 months, yes, I think this will have an affect on the console war long term. If the format war takes longer to resolve itself, then I think it will not. Blu Ray players will be considerably cheaper than a PS3 by then (150+ dollars) and people won't be buying a system for Blu Ray 4 years in to a generation.
It MUST have an effect early in the generation, or it doesn't have an effect at all.
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