SCEE Chief, David Reeves' quote on 'the US PS3 price-cut' has taken a U-turn. He stated earlier that they (SCEA) have offered a price-cut in order to get their stock cleared up by the end of this month and stop shipping it - the SCEA's SPR Manager, Patrick Seybold confirmed that they have no such plans and have enough stock to meet the needs of consumers for the coming months.

Despite dropping the 60GB PS3 consoles, Seybold revealed their plans to phase out the old version of PSP as the new redesigned PSP makes its debut in September.
Patrick Seybold on newly designed PSP:
The newly designed PSP will replace the original PSP design starting in September with the $169.99 PSP Core Pack and the $199.99 Daxter PSP Entertainment Pack.
The new version of the PSP will be 33% lighter, 19% slimmer, offer longer battery life, faster game load times, and video output to TVs.
Hence, unlike PS3 fans, you won't regret it much, because you are getting a PSP with slim body and greater proficiency.
Via: Engadget