All I'll say is how many people do you know who have pre-ordered a PS3 compared to the 360? I know loads who pre-ordered a 360, and none who have pre-ordered a PS3. £400ish for something with no extras and no games is a joke, I'd rather spend that on a Wii and more games for my 360.
The PSP was meant to shift like hotcakes (which it did for a while), but look at how the DS has outsold it - inferior hardware yes, but its cheaper and a lot more enjoyable experience. This to me is a perfect example of people not buying on brand.
Sony have also lost their #1 exclusive title in GTA - Where as Microsoft still have good old Halo to count on, I mean whos going to buy a PS3 just to play Metal Gear Solid.