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From a mass marketing perspective I see this as a bad move. Instead of a clear message going out that the PS3 is now $499. It's a muddled message that it's back to $499 basic and $599 premium (although better than at launch). I doubt this will have much impact on sales. The price point is still way too high, and still no killer apps.
I see this serving only Sony for two reasons: A) The 80gb version is without question more profittable, er, less of a drain than the 60gb. B) Makes stockholders happy they are doing something