There are a million conspiracy theories one can come up with concerning the launch window of the PS3 in relation to Blu-Ray. Here are just a few thoughts.
Unless I've completely missed something all of the copy-protection concerns are purely software based, having nothing to do with the hardware or even the Blu-Ray drive itself.
So, one could say:
A) There is some hardware issue that is delaying launch and Blu-Ray copy protection is being used as a red herring to cover up that fact. However, last word from IBM was that Cell yields were surprisingly good, and we haven't really heard anything about RSX being a pain, so the only thing that actually leaves is the physical drive itself, which would be an odd choice for a hardware problem.
B) It actually is simply a matter of finalizing the Blu-Ray copy protection, in which case there is no hardware issue, and the fact that its delayed until November means they have much longer to build up hardware before the software system is complete. This could facilitate a multi-region launch come November.
However, when were the stand-alone Blu-Ray players supposed to be available at retail? I thought the timeframe for them was earlier than November as well, which may lend credence to the hardware issue scapegoating theory. Then again, if they say "copy protection" do they mean AAC or BD+ (or whatever that Blu-Ray specific protection layer was), because if its the former that should be affecting HD-DVD's ability to come to market when they claim as well.