Is Sony knocking out a knockdown PS3?

PS3 forums are buzzing that Sony might be about to announce a huge price cut for its next-gen gamer, slashing the entry price point by £125 to an

PS3 forums are buzzing that Sony might be about to announce a huge price cut for its next-gen gamer, slashing the entry price point by £125 to an Xbox Elite-matching £300.But wait! There's a catch. It won't be the 60GB PS3 we all know and love but, according to our Sony source, a budget version stuffed with a mere 40GB drive, two USB ports, no media card reader and lacking backwards compatibility.All Sony's saying is that the rumour and speculation is mere, er, 'rumour and speculation' – usual corporate speak for 'how did everyone find out about this?'There's been no denial, though, which could suggest a sterilised PS3 to counter Microsoft's cut price offerings and the launch of the mighty Halo 3 might well be on the cards. Slightly crippled or not, a PS3-shaped Blu-ray player for £300 sounds like a pretty good deal to us.EssentialsSony PS3 40GBPrice: £300On sale: October (allegedly) Contact: SonyRelated stories:Sony PS3 Dual Shock shockerBargain PS3s at WooliesCheap 360s for sale on Friday