GamesIndustry.biz has a piece based on a chat with an analyst from Wedbush Morgan Securities named Michael Pachter. Mr Pachter fully expects to see a 150 Euro price cut inside twelve months from the 600 Euro price now, that would bring the machine in-line with current US and Japanese prices.

Although that's not the focus of the news item, I can't get over why both Sony and previously Nintendo seem to want to charge Europeans through the nose for their hardware.

His final comments did however give me cause for concern.

I think that games like Gears of War on the 360 look every bit as good, but given that PS3 game development was rushed, I fully expect next year's games to look better on the PS3

I just don't think he understands the hardware involved if he thinks that's true.