Sony's Playstation division is releasing a new model, a "slimmer" PS3 unit with a small power consumption value, and lacking certain features compared to its bigger brother, for $299 US.  The Slim lacks PS2 backwards compatibility, a Flash mem-card reader, and an ethernet cord, so you must have WiFi to use Playstation Network on this Slim so you must supply your own cord if you want a wired connection (ed.).  The bright side?  120 GB hard drive in the initial units, with a 250 GB hard drive coming shortly after, possibly to either increase the price point again, or to skip another price drop.  I think this is a good deal.

Microsoft and Nintendo have yet to counter this move.  This makes the Playstation 3 more affordable, AND the beauty of a Blu Ray player at $300 US is pretty nice.