gdgt

If you waited out this long already and still interested in the PS3, it's a great time to pick one up. You might as well, as the console is at it's cheapest since it's launch 5 years ago and there's many great PS3 exclusive games on there that you've missed.

If you're worried about buying a PS3 too soon and that the PS4 is just around the corner: Don't. Just pick up the system and enjoy all that is offers. And when Sony does announce the PS4, it would probably be best to avoid it anyways to avoid early-adopter woes that always tends to happen: Just like the PS3, it'll eventually get cheaper, probably get a smaller, and will have more games in it's library when the price cut comes. Since you're already deep into the PS3 life cycle, why not do similar with the PS4 so you'll have a bunch of great content to play with for less?

As for when that PS4 or whatever they'll call it is going to come out: Who knows. The WIi U, the first of the next generation of consoles, has already been announced this summer at E3 for 2012, next year. There's been many rumors saying that Xbox is looking into next year as well, and Sony has said that they do not want to release the PS4 significantly later than the competition ( www.eurogamer.net­/articles­/2011­-11­-23­-sony­-it­-woul... ). So, many are estimating that it may come next year or within the next 3 years, but that doesn't quite matter yet, since nobody knows what it will offer anyways. Just enjoy the $199 PS3s available now with the holiday deals w/ some great games included, and when the next PlayStation arrives, just consider it's price, whatever it'll be, and just trade in your PS3 towards a PS4 if there's must-have games at launch, or the more likely option, wait it out for it's price to go down, a slim model is introduced, and/or more games are in it's exclusive library, which may be even be 4-5+ years from now.

Hope that helps, and enjoy your PS3 if you get one!