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But yeah, to the OP, $400 is still quite a pricetag. Especially since it's not so much a price cut as much as a stripping of hardware and then paying for what we get.

Is that some kind of funny joke?

The $400 40GB PS3 provides you with everything required for current gen gaming. It gives you a HDD for videos, trailers, demos etc... , WIFI for internet access, HDMI, Bluray for movies and still plays EVERY PS3 game available.