This is my opinion but right now the PS3's problem is not the price, but the demand. A price cut will increase demand, but its not gonna get suddenly skyrocketing sales, because the demand for this type of product is both limited and split. We've seen this already with the 360. The other problem is that the PS3 isn't fighting against the price so much as it is fighting against the 360. A basic tenet in economics states that substitute goods tend to sell better for the lower priced product. An argument I've made before is that Sony failed to get consumers to perceive the PS3 as a luxury good, a product whose demand isn't as bound by price. Instead, it's seen as a counterpart to the 360, and as long as that is the perception, Sony will struggle with the higher price (as it seems clear by now that MS will not let any response by Sony go unanswered).
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