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BraLoD said: 

Long gone are the days of PS3 $599 disaster reveal, nowdays $499 for a very wanted piece of tech is nothing.

That $599 would cost $746.10 in today's money. The 360's more expensive launch SKU of $399 would cost $513.01 in today's money. If anything consoles have gotten cheaper since then. Honestly I'd like to see a $500 PS5 with great specs. Sony will probably just play it safe with a $400 model, and then offer the Pro version in two years.