Personally, I have difficulty imagining that there are that many people who think that $400 makes the PS3 not worth considering who will be highly motivated to pay $300 for one ...
This doesn't mean there won't be a large initial boost in sales (after all, for 12 months people have been holding off buying a PS3 because they expected a price drop) or that there won't be a sustained increase (because people who were considering both an XBox 360 and a PS3 may be more likely to buy a PS3) but I highly doubt this price reduction would be a game changer. To make matters worse, if Microsoft and/or Nintendo reduce the price of their consoles and/or create bundles the proportional improvement of the PS3 because of its price reduction could be minimized to the extent that it is hardly noticeable.
