I bought a $599 PS3 at launch, so I guess it's that, but I'm not sure I'd do it again. I don't think any price over $499 would stick, long-term, so I think I'd hold off unless there was something absolutely compelling to play.
My price barrier is probably around $800 (AKA what a new phone would cost me if I decided tomorrow to go and get one), but I'm probably going to skip out till Spring of next year unless there is some really big thing I care about that is there on day 1 that I can't play on my PC/PS4. I don't want to deal with the circus of preordering, I want to either walk into a store or press order on AMazon and pick it up from an Amazon Locker the next day