Definitely. I think it's pretty strange they stayed at $299 for so long if they were only gonna cut the price by $50. A $100 price cut would have had a far more dramatic effect.
Well if the PS3 is going to be 10 years in the market, then small price cuts at this point would give it more leverage to work with towards the later years. Technically the PS3 isn't even 5 years old yet.