The Sony PS3's GPU, previously running at 550MHz Core/700MHz memory, has been downgraded to 500MHz Core/650MHz memory. We don't mean to crap on Sony's cake all the time, but when their most powerful machine EVAR keeps losing its power, people start to notice.
In any case, if decreasing the specs will help get more units out by Christmas and avoid yet another Xbox 360-like shortage story, we're all for it.