Playstation 3 Price drop to $499

Sources across the board have confirmed that the price drop is infact very real. I apologize on not jumping on this story earlier but with previous rumors and such of price drops proving false I decided I would wait this one out. While some sources say that the price drop was to take effect as soon as July 12th, it would seem some retailers have already started selling the console for $499, including Target and Circuit City.

The news of a price drop just before E3 is a very wise move on Sony's part, and should hopefully help them release some of the stress that developers and consumers have been putting on them for the higher priced console. Now with that said, hopefully E3 will yield only more postive news for Sony, especially after the recent release of the failure figures for the 360, I am sure that Sony is preparing to pounce like a lil kitten watching your swaying hand against the carpet :P.