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7.
The best current generation console available. People complain about it because they couldn't wait for it to come out and wasted their money on an Xbox 360 or a Wii. They bitch about blu-ray, but it actually means that games with better playability and graphics will become available. Current software is pretty poor as its only just been released, but within a years time there will be some kick-ass games out.
Person 1 "The playstation 3 sucks ass, its far too expensive cos they put blu-ray on it."
Person 2 "Wait 'til Gran Turismo HD comes out, then you'll shut your mouth. If it didn't have blu-ray you'd have to have 50 different DVDs for each decent game. You only hate cos you can't afford it- you should have worked harder at school!"
by Bob with the big nob April 09, 2007
 
1.
The most expensive fucking console to grace the world yet.
Gamer 1 - "Did you get your playstation 3 yet?"
Gamer 2 - "yeah... had to sell some shit though."
Gamer 1 - "Like what?"
Gamer 2 - "Both my kidnies....." (Dies)
by xion665 June 01, 2006
 
2.
Sony's newest system.

The PlayStation 3, will use Blu-Ray discs as its media format. The discs can hold up to six times as much data as current-generation DVDs. It will also support CR-ROM, CD-RW, DVD, DVD-ROM, DVD-R, DVD+R formats. It also confirmed the machine would be backward-compatible all the way to the original PlayStation. It will also have slots for Memory Stick Duo, a SD slot, and a compact flash memory slot. It will also sport a slot for a detachable 2.5 inch HDD somewhat similar the Xbox 360's.

Out of the box, the PS3 will have the capability to support seven Bluetooth controllers. It will also have six USB slots for peripherals--four up front and two in the back.

Sony also laid out the technical specs of the device. The PlayStation 3 will feature the much-vaunted Cell processor, which will run at 3.2 Ghz, giving the whole system 2.18 teraflops of overall performance. It will sport 256mb XDR main RAM at 3.2 Ghz, and have 256MB of GDDR VRAM at 700mhz.

Sony also unveiled the PS3's graphics chip, the RSX "Reality Synthesizer based on Nvidia technology. The GPU will be capable of 128bit pixel precision, 1080p resolution, some of the highest HD resolution around. The RSX also has 512mb of graphics render memory and is capable of 100 billion shader operations and 51 billion dot products per second. It also has over 300 million transistors, larger than any processor available commercially today. It will be manufactured using the 90nm process with 8 layers of metal. The RSX is more powerful than two GeForce 6800 Ultra video cards, which would cost roughly $1000 total if bought today.

To show off the PlayStation 3's graphical brawn, Sony showed several game demos, including an Unreal 3 tech demo of what appeared to be Unreal Tournament 2007. In what must come as a relief to developers, Epic Games' Tim Sweeney was on hand to vouch for the PS3, saying it was "easy to program for" and that Epic had received its first PS3 hardware two months ago. He proved the tech demo was real time by showing it again and manipulating the camera and zooming in.

The PlayStation 3 will also sport some hefty multimedia features, such as video chat, internet access, digital photo viewing, digital audio and video
I'm going to get a Playstation 3.
by Shaddap May 26, 2005
 
3.
A ----ing exspensive but state of the art game console.
Dude #1:Look I got a Playstation 3!
Dude #2:Cool! Can I play?
Dude #1:No this thing costs more than you.
Dude #2:---- off.
by Unfergalicous June 06, 2007
 
4.
Either a George Foreman grill rip-off or a fridge; could be both.
If I'm able to afford the PS3, I'd sell it's innards to someone who needs them, and slap in a fridge motor and store my food in there when I'm in college. After, I'd replace the "Playstation 3" label with the word "Fridge" and that will still retain the SpiderMan font.

Man, I'll be all set after that.
by Dark Fox August 12, 2005
 
5.
An orgasm in a box for gamers
OMFG it's the playstation 3, i'm having an orgasm!
by Amos Nusheg February 19, 2008
 
6.
The predecessor to the playstation 4.
"Hey Bobby, I just got my playstation 3."

"Man that junk is so Atari. My buddy just got a prototype of the playstation 4 he bootlegged in from Japan off a fishing boat. You should see the graphics!"
by rocketman1 September 22, 2006