GameSpot covered eBay cancelling all the PS3 auctions that went up recently. This idea is one that everyone in the nation has right now, so if you are pre-ordered with the intent to resell for a “rediculous price”, I’d suggest you cancel your pre-order, because you are likely going to get stuck with the PS3.
According to eBay policy if the item for sale cannot be available within 30 days, then the auction can be cancelled or if the seller didn’t pay full retail price for the item (e.g. stolen off the back of a truck and sold for a fraction of the price) then the auction can get cancelled. It’s hard to say which rule eBay is employing here but now that we are officially 30 days out from the launch, is it no longer considered invalid to post those auctions? Who knows.