As our reader, Cheddar, pointed out, this is a rather amusing development in regards to Sony's phantom PS3 price cut (I just used "phantom" and "PS3" in the same sentence, the irony is almost palpable). Essentially, the announced a price cut and later just spinned it into "same price with added value." Here's what other industry big names had to say about Sony's "price cut":

Although Peter Moore is the Corporate Vice President for Sony's rival, Microsoft's Xbox division, but his comments regarding Sony's recent North American $100 price cut seems genuinely insightful. "I didn't see a price cut, and I must have been reading the wrong thing. It's still USD 499 and USD 599", said Moore. "They've added greater value at the same prices. Which to me is not a price cut", he added.

"I don't want to be anal, but I read "price cut" and I expected to see USD 399," Peter Moore continued, "When I hear the words "price cut" I expect to see a price cut".

Moore's opinion is shared by Capcom Chief Financial Officer Kazuhiko Abe, who expects Sony to cut PS3's price again before 2008. the price has been cut once and it is likely to be cut again towards the end of the year. I expect the (PS3's) installed base to grow gradually", said Abe.

To be fair to Sony, however, one shouldn't take Peter Moore too seriously -- not after he called Vista the "most gamer-friendly operating system." No, sir.