it's a possibility that what you say could happen, but when you look at the big picture I simply don't see it happening.

If you look at the past trends, one can see that near the beginning the 360 was only out selling the PS3 by a small margin, and that's when you consider that the PS3 was still the most expensive console despite it's value. Also dont forget that the PS3 has not had a price cut in almost 2 years, while the 360 has. So now fast-forward to today and you have a situation where allot of people holding off initially will be getting one this holiday season because for the 1st time the PS3 can really show it's value factor when priced exactly like the 360, and that's a big factor for a consumer willing to spend 300 bucks, I mean they'll look at both machines and then see that one does everything + blu-ray and the other does not all while costing the same, and that in any language or culture is a straight up bargain.

So we end up with a higher probability that the PS3 will not only out sell the 360 in the short term but also the long term...of course none of us have any hard proof to prove which way it'll go, but one thing is clear, slim versions sell tons and tons of console, look at the PSP and DS and even the PS2 for proof of that.

Price cut ? the arcade is 199, Most console sell best at 199

satisfied.

ill go back to play WOW to drown my sorrows

Well that is not going to happen!

More on topic, I think we can all agree, the PS3 has a great chance of beating the 360 this holiday. From Sony's perspective, if this does not put them above the 360. I would bring forward the PS4, and release that in 2011, get Naughty Dog, Insomniac, PD and GG working on that to get plenty of games ready. The PSmote and GT 5 will give enough to keep the PS3 going until the end of 2011

From a personal perspective, I would be dissapointed, but even if the HW sales are the lowest, most games will still come to PS3, and I can always rely on SEC WWS games

@kowenicki

I'm the only person who has actually answered the damn question

why has everything been made complicated as usual!

What we are missing is the fact we are just fans of the consoles, Sony is doing this not win the HD battle, which is fine, but to finally make money. It's a business decision, not a fanboy wet dream.

It's a great console with a great library at a great price. If it doesn't sell better than the 360, nobody should be saddened or hurt except for Sony employees. Everyone else should be happy that they're getting such a good deal.

Honestly? I'd be shocked if 360 still beats PS3. And I'll tell you why..

At $299, compared to the Elite model, even 360 enthusiasts should be able to see the value is amazing. It's a MUCH better value than the 360 Elite. I guess there are die hards who are avidly against one console or the other, so I don't expect everyone to buy one..but if you're a gamer and you're into good games and great value, I can't see anyone who was 'sitting on the fence' passing this up. A LOT of people were waiting for this price cut..I know 2 people personally who are buying the slim. That's not a lot, but they're also the only 2 friends I have without a PS3.

When it comes down to it, in terms of overall value, I see the PS3 selling like hotcakes as long as it's marketed right. No knock on the 360 - it still has some great exclusives that makes it worth the purchase as well, however I expect most people still looking to jump into this generation to see the gap in value and chose a PS3.

Also, PS3 owners who wanted a 360 already got it when the 360 went to the $199 arcade. 360 owners who want a PS3 haven't gotten one yet because the PS3 just came down to a reasonable price. I see a lot of 360 owners who have thought to themselves, 'You know, Uncharted looks good, and I really want to play GOW 3 when it comes out. GT5 looks good too, but I can't pay $399+ for something when I can already get 90% of the games on the console I have, and still have exclusives to that console.' Now that the console is $299, a lot of those people 'content' with their 360 that have 'looked' at PS3 games are more likely to jump in. Good games, no membership movie service, Blu-Ray, good exclusives, why wouldn't anyone who enjoys video games not be interested? Doesn't mean they all have to buy it, though.

I'm sure the reaction will be a mixture of dissapointment and defensive behaviour.

We've already seen some defensive behaviour exhibited by the community with threads like "It's a wonderful time being an Xbox 360 gamer" popping up very shortly after the news of the PS3 cut.

If Sony doesn't outsell the 360 by a large # from now on out, I think a lot of people around here will have breakdowns. Or they will go into another wait until blah blah happens. I for one think that Sony will indeed win this holiday season, but not by much.