I'm going to give you my honest opinion here and say no. The 360 and the Wii were pretty much the worst competition the PS3 could have had.
The Wii has snagged the casual markey that made the PS2 such a success, along with the hardcore Nintendo crowd that will own it just for games from the big N. Not to mention the cheap price point that also helped make the PS2 such a success.
The 360 has the harcore market on lockdown, seeing how it continue bowling over the competitionn in terms of exclusives, features, online, and (at this point) graphics. If you're a hardcore gamer, the system to own right now is the 360, and that's really hard to deny. The hardware issues aside, the 360 is a beast right now, not to mention it provides more features than the PS3 for 100 bucks less.
So how I see it, the PS3 is kinda screwed. There are those who will stick with it, and those who will go simply with sheer brand loyalty, but that won't bail Sony out of the hole they have dug for themselves.
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