Late last month, a rumor circulated that Sony would reduce the PS3's price next March. Well, SCEE boss David Reeves, who supposedly revealed the price cut at a staff meeting, is now saying that it just ain't so.

""No we are not going to go down in price," Reeves told MCV. "Neither are we going to go down in price on PS3 in spring time either. Absolutely not, whatever you might have heard to the contrary."

Added Reeves: "Our strategy is very much value added." In other words, they're confident that the PS3's Blu-ray, game selection, free online gaming, etc. makes it a more enticing purchase than the Xbox 360, despite the 360's lower price. Okay, so no price cut for the holidays and not this spring. Time to start bugging him about next summer, I guess.