I disagree there. I've a friend who turned a PC into a MPC and it's very good and functional, yet looking forwards he's considering whether to go with the PS3 or not. HDD storage isn't an issue as you can connect any storage up. PS3 supports the standards. You can buy yourself a large NAT that PS3 can work with alongside your PC in the study.
PS3 serves all the functions of a media PC except recording - playback of your entire media library from one device, neatly catalogued and presented. Content can be beamed around the house. Quality is fantastic. Also integrates content purchasing online, so you can browse the web, hear internet radio, find a song you like, buy it and add it to your playlist, from one box that sits nicely in the living room. It's cheaper than a PC to do all those jobs. Add a TV tuner/capture peripheral and it'll manage everything, but even without that (which looks set to be the perogative of the cable companies. You have ot have their box anyway so it makes sense for them to integrate the recording with the delivery) it does most things media related. There's been nothing my friend's MPC has done that PS3 can't do, plus PS3 plays better games and is cheaper! I can't see much reason to pick a MPC over a PS3. It's more this market that Sony are gunning for. They need to be sure that anyone looking for a MPC picks a PS3 instead (direct support of iTunes would be a bonus here!)
The PS3 can server media to PC?? I didn't know that. How does one do that?
@quest
So if hd movies isn't important then Sony is back to relying on the videogame aspect of the PS3. It seems to me that most people would just wait for either a really good game to come out. Or a price drop.