Yes, this post is sponsored by the letter R. Way too many R words in the title.

Anyway, rumors are spewing across the intarwebs about a PS3 price cut. We here at Loot Ninja are inclined to believe them, especially with reports of users buying PS3’s already at Target for $499.

I guess we’ll find out this week, but I’d say the odds are VERY good of Sony announcing a price drop at E3. Probably the SIXAXIS with rumble too.