Last I heard the cost of making a PS3 was ~$400.
For once, I'm taking Sony for their word.
I don't see a price cut coming. Main reason being
(aside from finally breaking even on each sale) it still wouldn't compete for 'average gamers' who can get a 360 for $200 or a Wii for $250.
The PS3 has placed itself in a very peculiar position. It has overshot the 'hardcore' gamer, and completely overshot the casual gamer. Unlike in their new movie biz, Sony has been letting some semi-exclusive dev houses (studios if you will) go on to be multi-format.
Why? I don't know.
Microsoft really got the stranglehold on dev houses when they came out on a DX based platform. In the past, every console had a unique coding environment. But the MS platforms coding environment is very similar to PC coding, which is where most if not all devs have their roots (or at least a great deal of working knowledge.).
All is well in the kamspy household when it comes to gaming though. I recently won an Xbox 360 in a game of Madden (high stakes when there is alcohol involved

). So I'm good either way.