steverhcp02 on 18 July 2007
Playstation price drop 250 days
Gamecube Price drop 176 days
Dreamcast price drop 245 days
Xbox price drop 181 days
PS3 price drop 229
The only "Failed" system i see is dreamcast and it was cut 5 days earlier than the PSX one of the most successful systems, and the GameCube which made nintendo a great deal of money and had some amazing games was cut at 176.......xbox might have lost MSFT a buttload of money but it produced some stellar games, so theres some stuff to answer the underlying question of your thread, no the PS3 is not a failure based on the price drop.
On a related note, Peter Moore seems to be the only constant with failed consoles of relative generation, eh? 
