If the developers can build on top of previous PS3 code base and experiences, increasingly more developers and middleware providers should be able to exploit the PS3 goodness. It won't happen quickly. I remember nAo or DeanoC mentioned this evolution in a series of stages in the Heavenly Sword days.
Two problems: (1) the target is moving as the competition (360, PC) also see improvements (see titles like FM3 versus FM2) and (2) game dev cycles are typically short and the window for making a meaningful impact during the prime part of the generation is narrow.
People were skeptical about Blu-ray at first. Now some are exploiting it.
Operative word: Some. Having something bigger, faster, and better is always a positive if all things are equal. The problem is Blu-Ray wasn't "all things being even." Technical, market adoption, and cost negatives aside (which is sweeping a lot aside) from the practical standpoint content costs money and next gen content creation cost more right out of the gate. DVD9 is a limiting factor but looking at multiplatform titles it is far more often than not the PS3 with the larger optical medium and standard HDD that has been found lacking in multiplatform titles.
So while some exploit Blu-Ray,
most have been frustrated by other memory issues (like RAM).
Like most things it isn't whether something has merits to some, but if it is the right decision for the current market. Per the point of my post (multiplatform development) the reality is content costs money and you are going to have to compress your content anyhow to get it quickly into memory. A large, expensive storage medium doesn't solve a lot of the problems many multiplatform developers have.
If it has, it isn't showing up on screen.
Rage may be an example, ironically, where Blu-Ray benefits the PS3 version. There are always exceptions (e.g. Burnout), but these serve to re-inforce the general rule, not negate it.
With the advancement of first party titles like KZ2 and Uncharted 2, the multiplatform developers will also benefit with tech sharing.
And with Halo 3 and the NXE MS did the same thing in terms of technology deployment.
As the generation slugs on all developers will get better (better code base and practices, more experiences staffed, tech sharing, better performing middleware, etc) but to this point (2009) its hasn't been a panecea to cure the PS3 ills. It has eased the issue (improved quality, fewer delayed and cancelled projects, etc) but it isn't a magic bullet.
The fact multiplatform titles continue to lag and developers still express the frustration and effort required to get near parity quality products to market (with all the tech sharing, Sony aid, better legacy code and practices, more experienced staff, exploiting and designing more with the PS3 in mind) is pretty indicative that paper specs don't really translate directly to complex projects with millions of lines of code that must be ran on multiple platforms.
If no one knew how many processors were in these devices or how many math ops they could do a second or how much bandwidth they had and were judging the software by what they see on screen and what multiplatform developers have to say, I don't think we would see so many threads with the tone they have.
Whatever way we cut it (you are going to disagree) what isn't disagreeable is that Carmack was extremely accurate in 2005&2006 in predicting the issues multiplatform developers would face with the PS3. It could all be their fault, too, but it doesn't change the fact that Carmack actually knew what he was talking about--which indicates that he shouldn't be so quickly slagged off when he makes comments about how some 3rd parties feel at this point.