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Let's see

First Sony dropped the 20GB(not a prce cut)
Than Sony lowered the price fo the 60GB to be discontinued(Clearance or Price Cut #1?)
Concurrently Sony introduced the 80GB model for $599(not a price cut but introduction)
than Sony dropped the price of the 80GB to $499(official Price Cut#1 techinically price cut #2)
Concurrently they introduced a $399 model(not a price cut but technically price cut #3)

Sony changed the price on a lot of skus and models through out the course of the Year but techically only one had a true price cut. The other price crop(60GB was a clearance though also a price cut since the price was reduced and the 40GB was a new model so again not a price cut but it was technically a price cut for teh entry level model.) In effect Sony has had 3 price cuts this year arguing otherwise is just playing with PR semantics.