Originally Posted by GridIroN
I agree with the previous commenter; buying a last generation console now is a terrible investment. Especially considering the new Playstation 4 will only be $100 more expensive on launch and you have 5 months to save up $100 extra dollars.
You may want to wait to hit the right price sweet spot ($300 may be the minimum New, but it seems you'll get some games with it) but generally if you've missed out on a console's entire lifespan, you can pick up quite a few great games on it for pretty cheap. Even today, old games like Killzone 2 aren't going to look "bad", and if you're not the type to do online console gaming (don't blame you with the many 8-year-olds) you don't lose out on much of anything.
I got my PS3 several years back, after switching from Nintendo - I hardly ever buy new, just-released games, but often I'm able to pick out some really good ones from the PS3's release catalog (or even buy an HD re-release of a PS2 game, if you never had one of those either)
ALSO: With the new consoles not really having "compelling" reasons to switch for the masses, I'm kind of predicting that developers are still going to make quite a number of games available for the PS3. Especially when a game isn't pushing the graphical envelope into the stratosphere, there's no point to making it exclusive to a console with a small opening marketshare.