CVG has learnt from several sources that PS3 is about to step up to the console war in a big way.
Speaking off the record (which means we can't name names), we've been told by sources in both the publishing and retail sectors that PS3 is on the verge of receiving a massive price cut - to £299.
But this won't be for the 60GB system that's currently on the shelves. It'll be a stripped down version, which Sky News reports will ship without backwards compatibility or USB ports. How you'll sync your controllers without them, we don't know.
Sony has been tipped to make an announcement regarding the stripped-down PS3 this week - right on time to combat Microsoft's massive Halo 3 launch.