Playstation 3 to cost more than my PC?

So, today at E3 Sony announced details of the Playstation 3. Read Engadget's write up for all of the info. Here's the part that gets me: $499 for the 20GB HD version and $599 for the 60GB HD version. My incredibly useful MacMini cost me $425, although, in the interest of full disclosure I should mention that I purchased it as a "refreshed" product from the Apple Store. Still, between $500 and $600 for a gaming device? Sure, it will play Blu-ray movies, but what else? On the other hand, I do realize how powerful it theoretically is and how much Sony will be losing on each unit sold. I still have to wonder if the arms race between Sony and Microsoft will really pay off for either of them. I think Nintendo has a great opportunity with the Wii, simply because they're trying to innovate their way through the market, rather than spec through it. Will you pay for the PS3? Leave a comment and let me know. Maybe I'm all wrong about this.

Tags: E3, Playstation 3, Playstation, PS3, Ninteno, Wii, Sony, Microsoft, Apple, MacMini, Bryan Bartow, spudnik187