I wish I had a spare £500...
Honestly though, I'm not sure I would yet. I was one of those who dashed out and got it when it came out, and I regret it. Not because it's a bad console - it isn't bad at all. Simply because the price is still far too high in my opinion, and it doesn't really have a large enough selection of exclusive games yet to make that financial outlay worthwhile.
Of course, it's your money, and if that £500 is burning a hole in your pocket, just dying to be spent, go for it. You just won't see the benefit until later on in the year I suspect. By which time the price might well have dropped...
You places your bets