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No, it would have had to of launched at $299.99. That ship has sailed. In terms of profitability and market share retention, PS3 is a failure. (relative to the other playstations)

The magic price point this gen is going to be $250. Last gen most PS2 sales were at or under $200, so with inflation and whatnot, that price should be around $230 this gen. So Wii is the only one close to a killer price point. This is why Xbox 360 needs an $100 price drop in America.

I think at $299.99 sales for PS3 should pick up, if it comes in the next 18 months. After that it won't matter, whatever console is winning will do best, regardless of the prices of other consoles (look at Gamecube- it was $100 for quite some time and still didn't sell(