Or, better yet, buy an Xbox 360 with a fraction of that, since only about 4 of the PS3's launch games aren't available on the Xbox 360 already, then buy a PS3 with the rest when things normalize.
A lot of folks may be buying them just for the Blu-Ray capability. Even at 600, they are at least 350 less than the cheapest Blue-Ray player out now. I understand Sony is probably losing about 250 per unit.
I like the PS2 and will likely buy a PS3, but I'm going to wait till next year. I don't expect the price to come down for some time though.
This thing beats the Xbox 360 pretty well in most areas, except for available games. That will change in time though...