http://www.next-gen.biz/index.php?option=com_content&task=view&id=5883&Itemid=2&limit=1&limitstart=0

I chose not to summarize it, because it discusses a wide array of things. You should make your own conclusions from this.

Interesting how the retail price of a console is less than half of its launch price, before it dies. I guess the Playstation 3 might max out at $325, and the Xbox 360 might max out at $200, while the Nintendo Wii might max out at $137.50. Even though the Gamecube was always a lot cheaper than the Playstation 2, and Xbox, it still got third place. I guess that means you can't use the "low price" excuses on the Nintendo DS, and Wii, for their success, since the Nintendo 64, and Nintendo Gamecube didn't do too well.

But you can use their mass appeal coupled with low price to point to success. Of course, this is all speculation. People can use the data to show whatever they want.

Xbox1 and Gamecube had price drops after 6 months?

The dilemma Microsoft has with dropping prices in July as that website suggests is that the Elite will only be out a few months by then. People say a price drop by Sony after only a year would piss them off, dropping the Elite price 3 months after release is sure to tick off the people who bought them a whole lot more.

Last gen, it was more cut-throat competition early on. They were trying to make up for the PS2's early launch.

This gen, Wii has show that it can hold its own. Sony, on the other hand, is relying on software and bonuses to retailers to move PS3 consoles. At least, for now...

The main thing I found interesting was that the majority of users bought a PS2/XBox/Gamecube after initial price drops when the system was under $200; on top of that a large portion of people didn't buy these systems until they were under $150. Now, it is impossible to determine whether these people were buying these systems because they became affordable or they were buying these systems because their libraries had finally matured; generally speaking I would say that it is a safe assumption that a combination of these two factors was what motivated people into their purchase.

Yup, the fact that most people wait until the whole console generation matures as a whole before deciding to buy is why I think the PS3 still has a very good chance. The 360 has more games, but, on the whole, it is not mindblowing at all (most 360 games the first year were just nicer looking versions of their PS2 counterparts) and concentrates too much on a single genre (FPS's).  Obviously Microsoft knows the core Xbox1 demographic was FPS lovers.  Problem is FPS lovers meant only 25 million in sales when all was said and done.

Of course, you are assuming that the situation on the 360 wont improve, while the PS3 does...
I do think the PS3 has a good chance, in the future, but the 360 has just as much room for improvement.

Sure, while there's time, there's always a chance.  It's still early.

"Playstation 2 lasted 19 months before it dropped from $300 to $200."

I hope they don't hold out that long with this console. With BR being a considerable portion of the $600, and the price of BR coming down; I hope they cave. Like before the holidays... Or sooner.