Love mine so far, only thing is there is lack of games, waiting till motorstorm comes out, for now resistance will keep me occupied. I also bought some ps2 games soul calibour 3, the getaway (paid $3.50 for it), devil may cry collectors includes 1,2,3 dantes awakening se (I did not like the devil may cry series so much, felt like ninja gaiden with ghetto graphics), Final fantasy 12, there is a sale going to pick up ridge racer 7. I have some games from when I had my ps1, crash bandicoot3, Final fantasy tactics, 7,8,9. I want to pick up metal gear solid 3 sustenance.
Playback works fine for me, some people complain that 480i games looks crappy on it some jaggies issues, I never had the ps2 so I couldn't tell, I gave my ps1 away a long time ago but I was not going to let go my final fantasy games.
Love having not to buy memory card media, I have enjoyed some of the demos, F1, motorstorm, and gran turismo HD. Things I dislike is that it doesn't multi task aka download a game and play a game at same time, I made dust an enemy of mine since it's the only thing that attracts a lot of dust, some of the dust attraction is a little exaggerated, I keep mine in the open, not crammed near a receiver.
One thing to add is I did not miss the rumble feature that much, it does add to the experience, the controls are light but I feel they are better built than the ps2 controller, I rate PS1 controller than PS3, then 2, I like the weight of the ps1 controller with the rumble, I think it plays better with fighting games.
Another thing to note is I had some issues with my ps1 controller when I had some issues when it came to connecting, the dual shocks would disengaged, overtime ps1 controller cables would go bad, source was where the cable and the connector met. This is a non issue with the ps3, run it once with the cable charge the bad boy up and your set. I did a 20min charge lasted me 2 weeks. I do love my system. I do like the 360 but I don't plan to pick one up till they do the system revision, they leaked some pictures of a fully working unit codename zephyr instead on xenon like the original. This one spots HDMI with true 1080p resolution, shrink ed processor to 64nm and a 120gb hard drive.
I had some pc issues last week, plugged in my usb keyboard and mouse and was surfing the web in no time. All Sony needs is a little time to adjust the software design and how things work, in a year or so it will be unstoppable, Microsoft had some of these issues, when it came out it couldn't download and play games, it also has some annoying issues.
One good question, I bought a 2yr warranty a best buy for $100, I returned it, do you think I should put the warranty back on? Some people tell me it's not worth it since the console has 1yr warranty and consoles usually go bad after 2nd year of ownership with the exception of the 360.