Those initial glitches (blue light of death, the rubber on the analog stick disintegrating after only medium use etc) will likely not be solved so soon.
Sony is in full production mode to at least fill in the initial launch orders until the sales mellow out a bit and stock is readily available. However i'm pretty sure their customer service is collecting all reports and Sony is well aware where the problems are and their engineers are at work to pinpoint and fix the problems.
However when that will happen is anyone's guess.. i hope the first revision will be there in Summer or Fall at the latest but who knows.
It's hard to judge if the roles are really reversed this time and Sony took over console death from MS (i don't hear about XOnes dying that much) though it's apparently not as severe as with the 360.
I just hope that when i buy mine in 1-2 months i don't get a lemon but a proper model without issues.