It's always a better financial idea to buy late. The console is cheaper, the games are cheaper... you have more content directly and don't have to wait for good games...
Now with the PS3 still at 300$ after 4 years, it's arguable, but it's not a bad idea by any means.
I for one think the price is still too steep, but it's due to my personal interpretation of the theory. If your entrypoint is higher than mine, go for it.
The absolute best time to buy, though, is when the next gen of non compatible hardware hits (PS3 without BC made the PS2 an absolute gem to possess... similarly, there was no reason to buy a GC because the Wii was there). I myself will wait to see if PS4 is BC... it it is I won't even consider the PS3. If it isn't... i'll look into whether I have the time to devote to it.
OoOoOoOoOoOoOoOoOoOoOoOoOoOoOoOoOoOoOoOoOoOoOoO
