You already know that as of September 5th, today, Xbox 360 console prices have been cut across the board. The $199 Arcade bundle has received the most buzz, with its pricing coming in below the Wii's price point. Should Sony, with their $399 console, be worried about this?

They aren't, or so they say. Julie Han of Sony's corporate communications tells Gamasutra: "We'll obviously see the natural lift [in sales] with the price cut -- but how sustainable is that in the long term?" 

"We're really confident that consumers are making choices driven by value," she says, "and we know PS3 offers that value across the board, with the built-in Blu-ray player the broadest and deepest software lineup in the industry, with LittleBigPlanet, Resistance 2, Motorstorm... we're quite confident our holiday sales will be good."

With the US economy in the state that it is in, you can't help but think that these lower priced systems will be more popular than another that costs twice its price. Sony hopes that people will think about investing in their ten-year strategy with the PS3. 

"With the recession, as people are... on tighter budgets, they're going to be much more conscious of how they spend their money," says Han.

Should Sony be worried? Or should they stick to their guns now that they've finally hit their stride?