Looks like the rumors were TRUE!! The PS3 is getting a price cut Feb. 11th of 09! As discussed in the article linked below, one of the head designers of 'Home' has hinted of a "new SKU that will be priced in the '$300' range to be released in parallel with Home's official launch."
http://www.psu.com/PS3-price-drop-to-hit-early-2009-News--a0006780-p0.php
The price cut sound great for the PS3 in 2009, but even better, we have a launch date for Home!!!!