If sales go well enough at the current price Sony could just do a $50 cut in April. Taking for true that now PS3 costs $299 to Sony (*), it should be going to stop losing money in USA right now, while it should have already stopped in EU. By April it should cost, if the current $299 is true, around $230, so a $50 cut could boost sales a little bit while it shouldn't make Sony lose again and would leave room for another $50 cut in Autumn.
MS reaction depends on XB360 sales, they have less possible cuts left and they must use them when necessary.
Nintendo won't really need to cut until it will be necessary to prevent Wii from being the most expensive, so not before mid 2010, Sony won't go under $250 before.
Obviously, should Sony accept to simply breaking even WW during Spring balancing initial small losses in USA with small gains in EU, it could cut $100 in April, but I guess shareholders would appreciate more PS3 to get a smaller sales boost in April, but with higher profits.
(*) not unlikely by Moore's law