A deep-throat-style source, who has a "great track record" according to Ars Technica, has revealed that Sony is preparing to launch a 40GB version of the PlayStation 3 at a $400 price point.

Other news from the anonymous tipster predicts that the 80GB system will drop to a $499 and that the Spider-Man 3 Blu-ray movie will be bundled with one, or both of the consoles to promote the Blu-ray format.

Apparently this news reveals Sony's plans for the "holiday" season in the States, that you could speculate will be an important time for the company and their flagging next-gen console.

As Ars states, the price cut for the 80GB PlayStation 3 would not be a major shock - there's been a stream of speculation about this model replacing the price point for the 60GB version.

It perhaps goes without saying, but the 40GB model at $400 would be a massive incentive for consumers who have been put off by the high cost to finally buy into the system.

Although far from the $199 "sweet spot" that the industry experts claim is the key to a mass-market console success, this reduction would make a difference - and if it's only the capacity that has been downsized, tech-savvy consumers could get round this with upgrades.

Michael Pachter, an analyst from Wedbush Morgan, has previously said that he expects a $399 PlayStation 3 no later than April 2008.

There's no news as to whether this new model will launch in the UK or Europe. Sony has proved in the past they are happy to go down different routes for the US and the UK when we did not get a price cut when America did, so keep your fingers crossed - but don't hold your breath.