Speculation: PS3 could kick a** at $299

Well that’s according to (local oracle) industry analyst, Michael Pachter , who believes that the PS3 could climb from third place, and out-sell the 360 with a $200 price cut. If you haven’t heard (you probably have), the PS3 was outsold 2-to-1 by the 360 in December, a surprising figure for anyone. Pachter believes that the PS3 needs to aggressively cut its price in order to stay in the game, and make up that large gap in sales.

“I think that PS3 will sell well once competitively priced,” Pachter said, adding, “Should [Sony] price at parity with Xbox 360 ($299), I think that PS3 sales would exceed 360 sales, and eventually, they could catch up.” Ok, well maybe catching up is not a good word, let’s try dominate. However, while Pachter believes that it would help Sony greatly, he believes it has a snowball’s chance in hell.

“At present, it doesn’t look like that is happening any time soon, so Sony should be prepared to remain in third place until well after they cut price,” he told GameDaily. The article that features Pachter, also features many other analysts and most agree that the PS3 needs to take an axe to the price in order to stay competitive. Considering the U.S. economy I think it wouldn’t be such a bad idea. What about you guys and gals?