Sony cuts PS3 price by $100.00 will it matter?

It was announced today that Sony is going to drop the price of the The PlayStation 3, which includes a 60-gigabyte hard drive and a Blu-ray high-definition DVD player by $100.00 which will make it $500.00. Since this is still twice as expensive as the Wii will it matter? That remains to be seen as many game players do not seem to be interested in spending that much for an item that could very well be replaced with something "newer and better" in a short period of time.