Sony has made it official.  The PS3 60GB model is dropping $100 dollars to obtain a new price tag of $499.  However, Sony also confirmed that a new 80GB model will be released this August for $599, the launch price of the 60GB unit.  The 80GB model will also be bundled with MotorStorm, an additive incentive to purchase the bigger system.  

As of right now, the bigger HD seems to be the only upgrade.  And as an added fact, the 20GB model that was offered at launch has been disbanded for several weeks now.  There has been no word of a PSP price drop. 

Sony hopes that the new price point and bigger model will boost sales of the sluggishly selling PS3 model. 

On another note, Sony should hopefully realize that dropping the price point isn’t going to fully help with slow PS3 sales.  Perhaps if the system actually had a game worth playing sales might increase.

Stay with forumwizard.net as more news develops.