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SOLIDSNAKE08 said:

sony should have priced the 500GB at $250, the 250GB at $199 and then later release the 12GB for $169. that would have been perfect pricing for PS3 at this stage in its lifecycle. i think its ridiculous that ps3 is 6 years old and still hasnt reached a price point of $199 and we wonder why they're lagging so far behind in the US. even the pricing in europe is ludicrous. 229 euros for the 12GB model? are sony crazy!!

this sums it up perfectly

http://www.digitaltrends.com/gaming/sonys-new-playstation-3-is-25-pct-smaller-but-the-price-isnt-right/

Wanted that price cut bad didn't you? Maybe it hasn't reached that price point because Sony realizes, no matter how cheap it becomes it will never sell what it needs to sell to be beneficial to them. By that I mean, if Sony continues to just cut the price like what their fans want so bad, they will never make any money from it.