http://ps3media.ign.com/ps3/image/article/635/635630/ps-meeting-2005-sonys-ps3-schedule-20050721020718112.jpg

the Playstation Conference in Feb 2006 (in Japan) is likely to be the first 
time actual Playstation3 games will be ready for the public to try out.

developers do not get real, completed PS3 development kits until December 
2005

PS3 release is still slated for Spring 2006, but this is probably only for 
Japan.    I'm thinking U.S. release in early  September 2006,   much like 
PS1 in 1995.