Sony has gone public with details of their pricing for the PS3 - and it looks like the guesswork about how much money they are willing to lose per unit haasn't been far off. They are going $100 up from the XBox, at $499 and $599. That's pretty steep, IMHO - we'll see if my notions about game system price points hold water. The details:

The 20GB HDD version will retail for $499, and the 60GB HDD version will go for $599. They promise 4 million launch units by December 31st. Update: 05/09 03:57 GMT by Z : Apparently, not only does the $499 system have a smaller harddrive, but it has fewer features as well.

Now it's down to how many units actually sell, and who's right about what the market will bear.

Update: Meanwhile, Engadget has a rumor about pricing for the Nintendo Wii.