I humbly point you to this thread, started by yours truly:

http://www.vgchartz.com/forum/thread.php?id=47930&page=1

Edit:

Damn, this was supposed to last till 12/31/08.

March 2009

 What he said.

Think about the games released and the upcoming games in 2009.
Then decide which console.
If you decide on a PS3, look for good deals like the other guys pointed out.
If you want a PS3, but get a 360 now, you might regret it in 2009, if you can't afford to get a second console.
In that case, if you really want God of War 3, Killzone 2, Metal Gear Solid IV, FF13 Versus and GT5, you better go for the PS3 one way or another.

For anyone who might be holding their breath for a PS3 price cut this year, I wouldn't... The Black Friday ads are already posted for most of the major Retailers... There are several sites such as bfads.net and others that already have Sears, Best Buy, Toys R Us, etc. and they are all listing the PS3 80GB console at $399. If Sony was going to price cut this year I imagine they would have already done it as it is already a bit late for the price cut this year with black friday is only 10 days away and I don't think Sony would want to make a price cut AFTER the biggest shopping weekend of the year...

I'd say it is really anyone's guess at this point when they will do it. I suspect Sony's efforts this holiday will be blu-ray promotions on stand-alone players to perhaps get blu-ray devices up the adoption curve. They generate royalties and underpin the whole reason the PS3 has a blu-ray in the first place...

One thing is for sure -- they won't announce it until they are ready to cut the price right then. If they say -- hey, we're going to cut by $100 in 6 months, they won't sell much until then...

I am going to do something unprecedented for this thread. I will actually ignore the rhetoric about baseless assumptions, and answer the question in a concise way. Sony has publicly stated they will not offer any price cuts on their hardware this year. Sony has not commented on their long range pricing strategy either since late last year. Sony has downgraded its fiscal year forecasts dramatically. More to the point since they produced their new forecast the economy has actually slipped further, and the government has declared that the country is in a recession.

You have to understand that most of those who are going to talk up assumptions in this thread are very much strangers to the economic reality taking place around them. Most of them really do assume that Sony can sell their console at a loss some time next year, or even sell it at a meager profit. While the rest of Sony is going to be hurting, and hurting badly. When televisions, camcorders, computers, movies, and other products see a slump in sales the difference must be made somewhere. When a company is struggling just to retain profitability that is hardly the time for them to sign off on selling whatever is selling at a loss. That just makes the company bleed faster.

The answer is do not expect a price cut during this economic downturn. This is the time when Sony will need to make as much money up front from all the products that can be profitable. Which will be few and far between. Expect a real price cut when the economy begins to grow again. Which I leave up to you how long do you think this downturn will last. Given the terminations, and the freeze on hiring taking place in much of the country. I suspect we are looking at something a bit longer then six months, and perhaps closer to a year.

Seriously guys pick up a damned newspaper see what is what. You would understand that Sony is not doing too hot, and will probably be a big loser this holiday season. Their products are usually among the most expensive.

March 09,80GB with Killzone 2 bundle

Nice post, but I do believe that Sony will be able to sell a PS3 during the Spring for $299 without taking a hit, the reason is that by then it'll probably cost that much to make one and it'll go on their new FY after March.

its not much slower, depending on your setup. people cant leach off you if you use passwords like your supposed to. doesnt waste that much power. and some people have to use wireless because they are not close to their modems to connect with the ethernet cable

PS3 will cut the price some time in 2009 and MS would immediately counter it with price cuts on the X360 SKU's.