Reports from Tomshardware indicate that Xbox 360 and Playstation 3 games have started to appear on online gaming shops, and that the PS3 games have estimated ship dates of May next year. This would indicate that the PS3 might be out at about that time. Tom's notes that online game stores have often recently turned out to be a very reliable source of information on release dates, so it's likely that there is something in this.
Expected shipping dates are November 1 for Xbox 360 games and May 1, 2006 - a date that could indicate the launch of the Playstation 3. Sony officials declined to confirm this date or to be more specific about a launch date. Game developers who preferred stay anonymous said the date "would certainly be in the right time frame."