I think its more of a price point issue, $5 & 600.00 is more than anyone expected. The blue-ray drive is whats driving up the price but eventually those drives will come down along with all the other components in the box, look at how much the xbox and PS2 costs now compared to their launch prices.
People with HDMI sets will pay the higher price for the HDMI output and people that dont have it wont. The xbox 360 has a price point advantage now but the HD-DVD drive that will be availiable later will make it just as expensive as the PS3.
If blue-ray HD movies are going to be your thing the PS3 might be a bargain if you play games too.