Re: Is it too late for a PS3?
It's up to what you want really.
I have a PS3 and I will most likely keep it for the next couple years even if the next generation hits. I really like it and I dig it's exclusives better than the 360 exclusives.
So if you just want a console that you can just spend hours playing some sick backlogs you'll be good for a while. If you have to have the latest and greatest it might be wise to wait for a bit and see if you wanna get the new systems.
They will be far more expensive than 150 though...