It's too early to tell if the PS3 will be a failure. I hasn't been a year. TGS revealed that Sony's machine will receive decent 3rd party support.
But their has been a dark cloud around the PS3 ever since the price was announced. Price. Developer's problems with the Cell architecture. Lack of compelling software. There is good and even great software, however, nothing that shouts, "Boy, I'm getting a PS3 for this." It seems many are waiting for Metal Gear Solid 4 and FFXIII. But how many times have heard, "Wait for (insert game here).'' I honestly bought my PS3 for its potential, just like Sir Stringer said.
The PSP launched will much more positive buzz, struggled a bit, and now is doing great amidst hyperbolic DS sales.
The Wii's success so far has been due both its price and WiiSports.
I know we all hate anecdotal evidence, but every non-gamer I know who has had interest in the Wii has only been interested in it as WiiSports player.