PS3? Good, bad, or indifferent?

[Ultra]

I think it's overpriced and the games are overpriced. I also don't like the fact that it can't play PS2 games. What's up with that? I'm not going to spend over $700 for one that can play PS2 games either. Don't get me wrong, PS3 is an outstanding console. In fact, it's one of the best consoles out there. I play Midnight Club Racing at one of my friend's house when I'm over there. It's a really great game. The thing is... I'm a bit iffy when it comes to the PS3. I must be a Wii/X-Box 360 person then.