Ron,
On a scale from 1 to 10, I rate the PS3 a 10.
The graphics are awesome, it outputs at 1080p resolution. It partners perfect with my High Definition 46" LCD TV.
The PS3 comes with free online play and web surfing. I was checking out Nora with my PS3. You can download free playable demo's, try before you buy.
It also has 2.4ghz wireless remote controls and wireless internet connection. My system has the 80 gig hard drive, it also has a built in 4 slot memory card reader for your pictures, MP3's you can even install a different operating system. It's basically a small computer.
Let's not forget about the BlueRay player that comes with the PS3, it upconverts the old 480p DVD's to high definition.