I don\'t think Sony is in that much of a rush to get to the market. I\'m betting on a late 2005-early 2006 launch. I haven\'t read anything about PS3 game development. The PSP is probably going to be the primary focus for several months after release before they start dropping PS3 bombs on everybody.
We know that MS wants out before Sony, having expressed anywhere from a 6-9 month lead(we\'ll see). There have been talks about as early as this x-mas all the way to fall of 2005. Development has already begun to shift to Xbox 2 with reports of Bungie(after Halo 2 release) and Rare already in progress.
Nintendo has said they will be out before MS and Sony, which means a definite 2005 release.(Nintendo\'s track record says otherwise)