I'm afraid I agree with Kain. If anything pushes me in the direction of getting a PS3, I don't think it's going to be Home; while it's a novel idea to create software that lets you do all sorts of mundane social activities, I think there's a certain amount of social territory that simply needs to remain, well... "real".
If I want to see a movie, for instance, I will likely go and hit up the theatre with my friends - the actual theatre, not a digital recreation thereof (that's putting aside, of course, the fact that none of my friends have PS3's). Similarly, there's only so much, in my opinion, that people are going to want to throw away on their residence in "Home"; for the odd few minutes that you might spend with a friend there before jumping into an actual game, I'm not sure it'd be worth it (as I assume that PSN will be charging for the furnishings, appliances, properties, and probably even the clothing).
Don't get me wrong, I do think that, as a novel idea, it should get some attention from the consumers (ie: I'm not trying to suggest that it's pointless to produce and release "Home"), but I couldn't, honestly, see myself using my PS3 to live out the more mundane aspects of my social life. I'd sooner just use it (or some other utility; say, a phone) to call up my buddies, meet in a game, and play that way, as opposed to calling them up, saying "Hey, let's meet at _______'s place in Home, then head into Battlefield: BC from there".
I know I'm going to get a lot of potshots for saying this, but it really just looks like the social and building feautes of The Sims being crossed with the direct-control approach and inclusion of arcade games that Animal Crossing had - obviously shinier, and including things such as newly-released movies. Nevertheless, not something that I think would be a "must-have". Certainly not the absolute best thing to happen to the gaming community, though.