well i'll try to get this back on topic (although the HDTV discussion is great): I've had my PS3 since launch, have left it on for about 24 hours, played for as long as 10 hours straight during Christmas break and I've had ZERO issues. Very surprising since I have to open up my PS2 every 6 months to fix the Disc Read Error issue.
My Top 5:
Shadow of the Colossus, Metal Gear Solid 3, Shenmue, Skies of Arcadia, Chrono Trigger
My 2 nex-gen systems: PS3 
and Wii 
Prediction Aug '08: We see the PSP2 released fall '09. Graphically, it's basically the same as the current system. UMD drive ditched and replaced by 4-8gb on board flash memory. Other upgrades: 2nd analog nub, touchscreen, blutooth, motion sensor. Design: Flip-style or slider. Size: Think Iphone. Cost: $199. Will be profitable on day 1.
Essay Pro