If Sony was to cut the ps3's price this early, then I would back the idea that Sony would discontinue the ps3.
1) They cannot keep losing money... and it would make it quite worse to do so in a faster rate.
2) If the situation gets worse, then Sony would have to make big cuts. And where else than where they are taking the most losses from? Yeah... not a very good idea.
I think the best sony can do to save the ps3 is not to cut the price until it can do so and still make a profit. I keep wondering if they can do this in 2009.