Some were expecting this, and Sony Just confirmed it. The PS3 will now cost fifty dollars/euros less, as the price has been cut down (with immediate effect) to 249 dollars/euros.

Looks like Gamescom is the preferred venue for Sony to announce their price cuts, and even if European gamers still get the shaft (249 Euros convert to 357 dollars), it's always nice to spend less on a great piece of hardware.