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I have had no trouble? but I genrally use the pad too tirn it off whilst i am actually gaming. But whilst I am actually in the front menus it turns off fine. If you hold your finger there for about 2 seconds it turns off.
Yup to turn it off you have to keep pressing for a few seconds as it's not instantaneous. Alternatively as already mentioned you can use the PS or home button and choose turn of console in the menue that pops up.