Usually I ignore these rumors, but it sounds like this one may be true:

http://kotaku.com/gaming/rumor/playstation-3-100-price-cut-hits-july-15-275391.php

I knew the price drop was "inevitable", but never believed Sony would drop it so soon. I wouldn't be surprised if this turns out to be true, though.

It doesn't really bother me too much, as I didn't buy the PS3 at full price anyway (I got an employee discount.)

Sony has only sold 3.5 million consoles to dat while Nintendo has sold 8.4 million and Microsoft has sold over 11 million. A price drop was needed to keep up with their two rivals.

Good stuff hopefully they drop the price in the UK as we have to fork out more then everybody else.