Does PlayStation 3’s Price Cut Matter?

It's hard to believe, but we're nearly five years detached from PlayStation 3's lackluster launch in November of 2006. Hot off of the record-breaking success of the PlayStation 2, PS3 models were boldly (and stupidly) priced at between $500 and $600, up to twice the PS2's launch price in 2000. Even though gamers loved their PS2s in the generation past, things weren't going well for the PS3 for several years, mainly due to its high cost-of-entry and its lack of compelling titles.

But since 2006, Sony's situation has solidified greatly, and the company seems to have learned a great deal about what it did wrong with PlayStation 3. Until a week ago, its Blu-ray-playing console cost a mere $300, half of what it cost only a few years prior. And its library of games hasn't only gotten stronger, but much stronger. With a staggering amount of exclusives when compared to its HD competition, Sony began making a strong case for why its system is a must-have choice for the hardcore gamer, both in terms of value and in terms of sheer amount of games that can only be played on PlayStation 3…