I am unlikely to buy one on day one. I can happily wait until at least day 3. Maybe even day 4...? :p
No, seriously, it will entirely depend on availability of games, my backlog, and stuff like what happens to my PS+. If they don't carry the subscription over to the new console, I will be sticking with PS3 for quite a while.
I am less concerned about H/W failure these days. It is going to be much less complicated than the custom chipsets of old, so I don't expect the YLOD problem on this kind of rig.
However, I will definitely not consider buying until there have been some objective "retail-standard" reviews of it. I'm not getting sucked in to any hype.
Realistically, this is the first console release EVER where I will actually have the potential to buy early-on. Every other generation has coincided with a period of penury, and I have had to wait ages to afford one. Makes a nice change :)
@WorldOfHurt That continuation of a service like PS+ is a big next-gen question mark to me. I am hopingo seamlessly move on but we shall see.