I think the PS3 already has what it really needed, which was Mass Effect 2, and of course Mass Effect 3. which was despite the success of Halo, imo was Microsofts crown jewel in its console library.
my opinion is that for the PS3 this gen wont end for a very long, time, i think that the Wii 2 and the PS3 will go toe to toe with each other, maybe with the next Xbox as well, if MIcrosoft decide to release one or just continue with the 360. so i dont really think a price cut is necessary until 2012 tbh.
but what i personally want from Sony is to bring some JRPG support here. they already have covered most of the genres, to beat Microsoft worldwide seems possible, but i think beating Microsoft in the US might be impossible - so i have no idea what Sony can do for that region. but i would be very satisfied if they could bring over some JRPGs now. oh bringing Kevin Butler ads over to Europe would probabily help A LOT as well imho.