If this is part of their plan, it could be working. First, Sony has forced Microsoft to price its Xbox 360 console at a safe, but still costly, mark, all while Microsoft is still coming up with its own marketing plan against, what it thinks, is a high priced competitor. Second, Sony is telling consumers that they have a great toy for them, but it might cost more than they can afford. Is there anything more enticing than fun you can't afford? What would happen, then, if Sony announced the PS3 price at the same Xbox 360 price ($399)? People would think they're getting an affordable bargain, and Microsoft would be screwed. Two points for Sony.
As Morris points out, this is all his own personal speculation, and he knows nothing more than you or I when it comes to PS3 pricing. However, it's interesting to think about, particularly after Morris reminds us of the $500 PSP rumors.