Give it a year or two and it will kick some major ass. High-end computer games will be far ahead of it by then in terms of eye candy, but the PS3 and X360 have the advantage of gameplay and the much larger amount of good games.
i'ma wait close to a year. or at least until they have around 10 games that have ratings of 9 out of 10 (resistance- fall of man isn't even getting 9's everywhere). by that time they'll have all the kinks worked out and it might be worth the 600 bones (hopefully the games will start looking as good/better than the 360 by then). it's not worth getting for just one or two games until then, imo