When will we be blessed with the PS3?

There have been numerous speculations about the new PS3. I've searched for several weeks and this website(ps3land.com), seems to be the most legitiment site out there. I want to know how you feel about this upcoming release? I am excited and pumped for the release of the ps3. I'm just a little worried about the price that Sony is going to be asking. $300 was steep for the ps2, and I'm just hoping that the price will be reasonable. I read a rumor that the ps3 may be able to record t.v. and burn DVD's, wow, how much could that possibly cost? How powerful will the ps3 be? "It has been rumored by some that the PS3 will be up to 1000 times more powerful - however this is unlikely." I would love for it to be this powerful, and my anticipation is through the roof for this new revolutionary gaming system.