PS3 Portal has an article about some common misconceptions about the PS3, and especially about Blu-ray. Here are the misconceptions, check out the article for the answers.

1. Blu-ray may get beaten by HD-DVD, and then my PS3 will be useless
2. Blu-ray has a draconian copy-protection scheme
3. The PS3 will cost $800, $900, $1000, etc…

Though it must be noted that their answer to #2 is slightly off. Sure AACS is used by both BD and HD DVD. But only BD uses a watermark on the actual disc to prevent piracy (called ROM Mark). BD also has BD+. So yes, BD does have more copy protection than HD DVD does. But for law-abiding citizens, that should really be a problem.

Playstation 3 Myths and Rumors Dispelled