Sony just suffered a terrible launch due to shortages, but the shortages weren't the only problem. In Japan the PS3 simply is not grabbing gamers. The software sells are non-existant; usually launch software sells like hotcakes to gamers who just want to play anything on their new system. Not the case on the PS3. Ridge Racer 7 has totally bombed, and Japanese gamers don't seem to care about Gundam/Genji/whatever. This is what happens when you launch with pathetic software and highpriced hardware.
And before Diablos pulls the "oh but the PS3 does so much more than play games, so the software sales aren't a problem." Dude, no one gives a fuck about Blu Ray, here or across the pond. As it stands Blu Ray sales are behind HD-DVD sales, and it's not like those are doing great either. The PSP offered similar non-gaming incentives (UMD, music, etc) yet its launch software sold very well.
Japan is Nintendo territory right now, like it or not. The DS is going to continue dominating sales, and the Wii should really take off once that Pokemon game comes out. Sony is fucked in Japan, period.
In the US, I expect the 360 to outsell the PS3 for most of 2007. The PS3 is going to suffer from the same drought issues the 360 faced last year, and I expect it to be longer due to the price.