To PS3 or not to PS3...that is the question!

I'm torn. I don't know whether or not I should just stick with the 360 as my only console or if I should purchase a PS3 to go along with it.

I was quite into PS2 back in the day, and as such I really want to buy and love a PS3 but Sony is making it very difficult for me to do that. Meanwhile you have Microsoft, who in my opinion is on a major roll and has made a lot of wise decisions with this generation of consoles (aside from the whole red ring debacle that has impacted me quite a bit). Sony just hasn't really put together anything that can really compare to the solid and consistent online experience of Live or the addictive and enticing achievements system. If you judge the PS3 just on its on merits though there are some compelling things there. Sony is doing a lot of very interesting things in terms of downloadable games on PSN and the Blu-Ray movie support is a real bonus.

When you get down to it though, the most important component of any console is the game library. With the 360, I've been extremely pleased and almost never without something interesting to play. This includes plenty of exclusives such as Mass Effect, Gears of War, and Fable II. Along with that though you have a huge library of third party multi-platform titles, many of which perform and look better on the 360. The PS3 library has some high points, but overall just seems thinner than the 360's. When you consider how overwhelming large and great the PS2 library was it's hard to even believe that the PS3 could have gotten itself into its current situation. Japanese developers such as Square-Enix and Konami that had a major hand in making the PS2 a success just haven't made a very smooth transition to this generation of consoles. In addition, a lot of big PS2 first party titles have still yet to make an appearance on the console. God of War, Jak and Daxter, Ico/Shadow of the Colossus...where are they? These are the sorts of games that could drive people like me that were fans of the PS2 to make the leap, and considering the tremendous number of PS2 owners there are out there, it's hard to believe that Sony isn't doing more to appeal to them by bringing back those familiar franchises. I don't want to be entirely down on Sony though...I wouldn't be considering purchasing a PS3 at all if there weren't exclusives that I wanted to play. Ratchet and Clank, MGS4, Uncharted, and Valkyria Chronicles (the game that resparked my interest in PS3) are all tremendous game that I would love to play. The question is do they justify the $400 price tag?

So, what do you guys think? If you have a PS3, are you happy with it? If you don't have a PS3, what's holding you back from making the purchase? I'm just curious about what everyone's take on the situation is.