Yeah it's blue. I own one in that color just like the pic. It depends on the lighting. On an overcast day it looks flat grey, on a sunny day it looks blue, and at night under street lights it looks glistening silver. Just depends.
I can't seem to get the blue to show in any digital images even when it looks pretty blue to my eyes. There is another blue color that you may be thinking about that came around in '05. I forget the name of the blue but it looks deeper blue.