Here is a link to some more recent speculation:
http://addict3d.org/index.php?page=viewarticle&type=news&ID=9083
The link mentions that only about 15 games will be ready for the unveiling of the system and that the system would role out in 2 versions - one for $299 and the other for $399.
There is also talk of Sony possibly holding back the PS3 until 2007 depending on how the Xbox 360 does. I personally can't imagine Sony missing Christmas 2005 and 2006!! People just whip out those plastic cards and go crazy on the holidays no matter the prices!!