Which one? PS3.
Right time to buy? Yes.

I'll go for PS3 coz:-

- PS3 exclusive games are mostly superb.
- Excellent Audio & Video (HD and surround sound gaming - I use optical cable to a Denon receiver 7.1 surround, HDMI to LCD)
- PS3 Eye and Move controller for motion gaming.
- online gaming is free. Tons of free stuff in PSN.
- it's a Blu-ray player (all HD audio types supported and even 3D Bluray Video). Stand alone 3D Blu-ray player can easily cost RM1500+++

I got a PS3 Slim with Move controller. For me, worth every single ringgit.