I've got a free game (bart smit in Belgium) so the PS3 has cost me about 530€ (They sell all their games for 69.99€)When I bought it I thought the PS3 was worth the 599 euros it cost me, and looking at how central it is in our livingroom and how much playtime it has gotten, I'm more than happy.
So the pricecut doesn't bother me that much.