If I were Sony, I wouldn't.
Clearly the Wii is unstoppable at this point. If people are using the PS3 is way more expensive than the 360 and is only getting outsold by ~10k therefore it's not in trouble reasoning, than surely Nintendo's recent drop in Wii sales is nothing to be concerned about (Price Drop = Game Over).
As for the 360, the lead fluctuates a fair bit, and right now its about 8 million (where it's been hovering for a long time). That's still within striking distance (imo).
and even if it isn't, Sony (if they were smart) aren't going to risk losing heaps of money on a price cut to claim first loser when earning a profit on the PS3 should be their priority at this point in time.
But then again, this is the same company that only made good with the PSP in terms of consistent releasing of great games recently, even though the consoles been out for ages, so they're unpredictable. Also, with that in mind, I would not count on history to show us anything about Sony (i.e they price cut 2 years ago, they should now).
I'd say bundling games right now would be the better option (which would make the PS3 technically cheaper for the consumer). Does bundling with games at the same price = price cut as well? If so, then I'd change my vote to a yes.










