The folks at PSM3 got to see a real working PlayStation 3 with three games, Resistance: Fall of Man, Guitar Hero 2 and Motorstorm. The team got to play a bit of the two games. They were impressed with Motorstorm and thought Resistence: Fall of Man was only so-so.
This proves the PS3 does indeed exist and that, regardless of production issues, they're making progress on production. The PS3 was effectively "vaporware" given the mild showing at E3 and other road shows. However, now they're starting to show up for folks to touch and hold.
A product demo is typically exciting for a few hours but seeing a finished product puts additional faith in the design. As the holidays approach it's nice to see some faith in Sony and its next-generation product. Hopefully, more consoles will hit reviewers hands and we can start to get a reaction to the next line of Sony equipment.