While past news said that the PS3 would be available during spring, a recent interview with Howard Stringer, CEO of Sony, says otherwise:

Sony will roll out the PS3 by year end, in time for the holidays. If PS3 "delivers what everyone thinks it will, the game is up," Stringer boasts.

I say: It's better to wait and have something totally awesome to give to the public, rather giving a product that dies after a few days. Which was the case with a couple of XBoxs.

Via fosfor