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Rumor has it from dependable Japanese blog Coolgamer that the PS3 will be priced for under 40,000 [sorry, missed a 0 - JB] yen in Japan when it is released. That, if you're not good with conversions, is a little bit under $400. The update reads:

"In the latest from Famitsu, a very important person mentioned that the PS3 price would not be over 40000 yen.

Hear that? A very important person. A few months ago, however, there was also a previous comment from a Sony representative pointing towards the same pricing, so we hope this is correct. Of course, the PS2 also came out at the same price point in Japan and then ran for $299 in the US, so we'll see how it all pans out for us.

PS3 Under $400 in Japan? [1up]