PS3 deserves 5 starts 10 times over - it does so much that it has more in common with a super computer, so much more than the sum of its parts.
As a gaiming machine - its the hands down best on the market right now with best exclsuives and free online.
As a Blu Ray player - its the best on the market as its firmware upgradeable and will allow you to buy movies via the online store.
As the centre of a music system - its flawless and supports full HD sound. If you are a huge music buff then this is the way to play all your master recordings.
As an internet browser - it provides the best internet browsing experience off a PC. Sites like youtube, facebook, myspace, twitter, MSN, play.com, are all accessible and can be used as you would on PC (when theres a group of friends or family theres nothing like going on youtube and watching some funny skits, stand up or sporting moments together)
Harddrive - the PS3 can support an internal HDD of 500gb - and its pretty cheap. You can also hook up an external HDD of 500gb. Thats a Terabyte of space.
While there are other good products out there that do the individual functions of the PS3 (An xbox 360, a mini box hardrive to HDTV converter, a sony blu ray player ect) all of these products are inferior/not as good value as the PS3.
I paid twice as much for this console only 2 years ago and i consider that a very good price. for 250 you should have already ordered!