Sony Drops PlayStation 3 Price by $100

Sony Corp. effectively cut the price of its PlayStation 3 by $100 on Tuesday, in a move the consumer electronics giant hopes will juice demand for its next-generation gaming console -- which has undersold its rivals since its launch nearly two years ago.

Sony announced Tuesday that its PlayStation 3 will come in a new slim form factor and cost $299. That's down from $399 from the current model. The company laid out the details of the new console at a press conference in Germany, leading up to the Gamescom industry conference.

The new PS3 is expected to be available in stores by Sept. 1. The console comes with 120GB of memory, higher than the 80GB on the current version. The device still includes a built-in Blu-ray player.

:story: Full story: WSJ

I've been holding out for God of War III but think I'm sold on this slim version.

I heard they removed all PS2 compatibility in this new version, with the aim to make PS2 games downloadable (hence Charge more money!).

Anyone have a 20GB or 60GB NTSC version they want to offload? ;)