Give it more than 8 hours! There wasn't any need for people to line up in depseration, so a lot who would have done that may have thought to themselves 'I'll pop in after work on Friday, or Saturday after I drop the boys off at football, and pick up my PS3.'
That's when we'll start to see what demand is or isn't. I wouldn't be surprised if PS3 doesn't take off (look at XB when it launched at crazy prices in Europe. It took a price drop within weeks before it started selling) but expecting Sony to sell out a million units in an hour is just plain crazy, and calling no such mega-queues a flop is also quite extreme.
As for the TVs, I wonder what that'll do for lines at PS4's release...
Obviously more people will buy it that weekend but is is a PR nightmare for Sony right now as people have still in mind the queues for Wii launch past december.