They reduced the price of the 60GB PS3, but the PS3 still can't be had for less than $499, so its not a real price cut. The value to the customer is increased but the cost to get your hands on the PS3 platform has remained the same. A true price drop lowers the amount of money you need to purchase something. Spending $500 on a PS3 now gets your more for your money but just like when the system launched you still need $500 to purchase a PS3.
If MS canned the Core 360 tomorrow and dropped the price of the Premium unit to S299.99 it would be a price cut only on the Premium unit. The 360 lineup would still have a starting MSRP of $299.99. The value to the consumer would be increased but it is not a real price drop because the consumer still needs the same amount of money to purchase a 360 console as they did prior to the "price drop."
