PlayStation or FlopStation 
Gamers in Japan and the US have been playing with it since last November, but it's taken four months to come to Europe. It costs more than any other gaming console, and it seems to have arrived amidst lots of broken promises. So, has the PS3 been worth the wait?
It started in 2005 when a proud Ken Kuturagi, the father of Playstation, stood on stage at the E3 gaming show and triumphantly held aloft a gleaming silver box that he was sure would be the future of video gaming. After all, its predecessor was on its way to selling over 100 million units, making it the most popular games machine in history.
Playstation 3 promised photo-realistic graphics, online gaming and a Blu-ray disc player, all wrapped and ready to go in Spring 2006; but competition in the latest-generation console wars was fierce.
First came Microsoft's Xbox 360, promising a similar experience for less money, and then we got wind of Nintendo's Wii, with its revolutionary controller and back to basics game-play. The battle was joined.
Then came the news of delays to the PS3 - problems with the Blu-ray chips delayed its delivery worldwide, and then, to add insult to injury, its Europe release was delayed till after Christmas.
And when it finally arrived the European version wouldn't be completely backwards compatible with the PS2's enormous back-catalogue of games.
Now release day has come and gone, and another shock - unlike the Wii or the xbox 360, the PS3 didn't sell out on the first day. Supply exceeding demand? Or demand severely damaged by a string of Sony blunders?