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In the annual report for the last fiscal year, they report sales of 5.5 million ps3 units (so probably that much units built in the fab up to 31/03/2007), if they want to get 11 million additional units out of the factory up to end of march 2008, there would be 16.5 million units in the market ... Unlikely they are about to get 16.5 million units out to the customer anytime near or close after that date (31/03/2008) and rather unlikely retailers like to stock PS3s in huge quantities ....

Reference:
http://www.sony.net/SonyInfo/IR/financial/ar/2007/
http://www.sony.net/SonyInfo/IR/financial/ar/2007/qfhh7c00000d7q95-att/SonyAR07-13.pdf page 11

Worldwide hardware production shipments (decrease compared to the previous fiscal year):*
PS3 . . . 5.50 million units

* Production shipments of hardware and software are counted upon shipment of
the products from manufacturing bases. Sales of such products are recognized
when the products are delivered to customers.