Well my brother's sister's friend said that the PS3 was delayed because games were taking too long to make (I believe EA was the source). I've also heard that they may be waiting for the technology of blueray to drop a bit so they don't take huge losses on the hardware (somewhat believable I guess). They could also be waiting for things like HDMI 1.3 to be finalised along with copyright protection stuff.

Just what I heard, don't ask me to prove any of it!

M3's(LCR), Onix X-Sub, Marantz SR5200