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rocketpig said:
Sony wouldn't really benefit much from a price cut IMO. What happens if they cut prices? Sony - "Okay, everyone, the Playstation 3 is now available everywhere for $499 USD." ...three minutes later... Microsoft - "Okay, everyone, the 360 Pro is now available for $299 and the Elite is now $399. Oh, BTW, we'd like to thank our friends at Sony for showing their hand like this. Now they're losing even MORE money on each console while we're virtually breaking even on ours. Cheers, mates." Who wins that war? Well, the consumers sure do, but MS would be laughing their ass off at Sony for walking into such an obvious trap.

So Sony should wait until Microsoft or Nintendo lower their prices? Highly unlikely that there will be a price drop for the Elite so soon. By the way, who is to say that Microsoft will follow suit if Sony were to lower the price for the PS3? Microsoft lost a butt-load of cash on the Xbox, they were losing cash for each 360 sold, and even though they might be making a profit now for each new 360 sold, it's still nothing for them to boast their asses off. I wouldn't be surprised if they decide to play the "greedy" card.

All in all, I don't know who is going to throw the first punch and what will transpire after that, but there will be questions answered in due time.