The blue color looks rather striking on a PS3 slim, if a bit too "electric blue" for my taste; I'd prefer a somewhat darker, almost navy blue shade. I'm also baffled why they chose blue, when the Gran Turismo 5 packaging and promo art has mostly black and red colors. And aside from the color, there's nothing else, not even a GT5 logo, that's on the PS3 itself. But it does look great, and makes the console stand out above anything else.
This Titanium Blue Ps3 is also one of the new 160GB models, replacing the earlier 120GB PS3 slims that originally came out last year. It's also the 3rd color variant, after the Classic White Ps3 and the white and pink Final Fantasy XIII Lightning Edition.
Unfortunately, just like the white and Final Fantasy XIII PS3 versions, the Titanium Blue PS3 will only be available in Japan, and only as part of the Gran Turismo 5 bundle. No announcements have been made at this time whether this blue PS3 will be out in other countries.