(****2 updates to story, see below)
According to the PS3 web site (which has very recently been updated), the $600 dollar (US) version of the PlayStation 3 does not ship with a HDMI cable. Upon reading the FAQ carefully, it's possible to come to the conclusion that the PS3 doesn't come with
any HDTV cables. That's right, according to their FAQ located
here, neither version of the system will ship with the HDMI cable, rendering highest definition playback of movies problematic. It's also pretty odd to see this text: "Video output in HD requires cables and an HD-compatible display
both sold seperately." (emphasis mine)
Here is the FAQ question at issue:

Read the first asterisk carefully: "Copy-protected Blu-ray video discs
can only output at 1080p using an HDMI cable connected to a device that
is compatible with the HDCP standard." Actually, this text hides the true 'severity' of the situation. If you're playing
Blu Ray discs that are copy protected, and you don't have a HDMI cable,
the quality will be degraded to just a touch above DVD resolution -
REGARDLESS of the display (720p or 1080i). This is an unfortunate feature of the Image Constraint tolken (
see this Wikipedia article)
Sony has repeatedly stated that their $600 system can play movies and games in crystal clear 1080p. What they're not being so bold about stating... To play Blu Ray movies in their proper resolutions (720p, 1080i, or 1080p), you really need to spend more. The next bullet points really hammer the point home.
Let's look at that section closer, shall we?

What does that mean for Sony fans? It means that if you have a HDTV (of ANY type, not just the new 1080p kind) and you have a desire to buy Blu Ray movies, you should buy an additional cable to play them at their intended resolution. The HDMI cables that I've seen online and in stores retail for anywhere between $30 and $50.
So, if you were intending to use the PS3 to play Blu Ray movies, your real cost is about $650. That's with no game or movie included, that we know of. And... probably a single controller.
(****2 Updates (9/4, 1:30pm EST):
1 - Readers are pointing
out that their Internet sources for HDMI cables are less than my sources, and that some studios won't be using ICT - thanks for the tips, and
2 - PS3 will likely ship with Component cables, which is all that is needed for HD gaming - I concur that this is most likely, and understand that gaming is unaffected.)
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