Is it too late to buy a Sony PS3?

Im thinking of getting one this Christmas or saving up for one on my own. But at this point (or by the time Christmas arrives) will it be a bad time to buy the Ps3? Will they be going obsolete soon? Will sony be making a new console that I should wait for? I know that nobody probably has the answer to that third question, but I just kinda want guesses or speculations. I don't want to spend my money on a brand new ps3 if sony announces a new console in a year or so.