At its Gamescom 2011 keynote, Sony announced that the Playstation 3 (Standard, 160GB model) is having its price cut to $249.99 in the U.S., €249.99 in Europe and ¥24,980 in Japan. The new price goes in effect today. The Playstation 3 was $299.99 since its last price cut two years ago, so now would probably be a great time to pick one up if you haven't yet.