I vote for waiting. From the financial aspect, something to consider is that new PS3's are now selling pretty close to retail price on eBay, and have been doing so since the end of December. So the days of making lots of money off of selling them are over. I don't know what the prices are for used PS3's, but I imagine they're going to be less than retail. Some online vendors are starting to sell PS3's at retail price without tying them into a bundle. The deals may not last that long, but the fact that it's happening (which isn't true for the Wii) means that demand is slowing down and more in line with supply.
Also, the price of the console will drop eventually (as all console prices do), so I don't know how long you were planning to wait before getting one. Your money could be better spent from now until then, rather than being tied up in a console for which there aren't any games that you have to have, nor to play movies that you don't own yet.
A similar thing happened when the PS2 came out, as it was less expensive than many other stand-alone DVD players at the time. I've used it once to play DVD's, and it's an average player at best. If you're looking to get into Blu-Ray, a standalone player will be better (maybe not right now, but down the road).
As for being the coolest dude in town ... well, if that's what it takes for you or your friends to feel that way ... then the above arguments are probably moot.
