I agree, its far too early for the introduction of a completly new format especially one that requires another rather significant investment in the form of a HD compliant TV in order to get the best out of it. On the other hand, if either the PS3 or XBox360 really take off they will be sowing the seeds for the proper take off of the format in the years to come.
However I don’t agree with the format being the console killer at all. As I said above it will be the success of one of the consoles which will determine in part the success of the new formats imho.