Dont drop the price, create good value bundles with popular games.
GT5/ Uncharted Twinpack in Europe
God of War 3/ Uncharted Twinpack in America
???? in Japan
The PS3 will be profiting a whole lot now. The super slim will be great for Sony at the current price.
If Sony were to cut the price, it should be done in developing markets. Eastern Europe, Asia, South America. Places where the PS4 wont be out/affordable for a long tine.