I'm looking hard for a Wii, but PS3 lost my attention because I can't believe that Sony can maintain that price point for long. It WILL see a price cut in the new year. Right now, I think it's deliberately high:
a) to gouge early adopters
b) to keep demand in check while they ramp up production
c) to minimize losses. They lose $hundreds on each unit sold
I may get one when Gran Turismo comes out, but before then, there is no compelling reason to get PS3. And, unless GT offers something more than better visuals, I won't be in a hurry to get that either.
Wii on the other hand looks like fun. I should be able to get family and friends to play along with the innovative control system and okay, Zelda looks like the best game since Ocarina of time.