Those of you waiting for the promising Sony 3D online world Playstation Home to launch this year are about to be disappointed.

Sony announced at the TGS 2007 that the Sony Playstation Home service will launch in Spring 2008.
The beta test of Playstation Home has supposedly been underway since May. Sony is obviously taking its time to get Playstation Home right. They need to get it right from the start, otherwise the adoption will not be there to make Playstation Home a viable alternative to Second Life.
See this video of Playstation Home demonstration published at the GDC 2007 in March.