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Well it's supposed to be a slimmed down version.

It won't be a slim version. That's a separate rumor that's supposed to materialize towards the end of 2008, and it's from an extremely weak source. It's really unlikely that we'll see a slim PS3 until at least late 2009.

The 120-160gb is probably still a couple months off. If it's going to include the DS3, then it won't arrive until that does, which is still set vaguely for "spring."