Sony has announced that they are releasing a cut price version of the PS3. It will retail for £299 but will be without many of the essential features in the full version. The cut down version will not be backwards compatible with the previous consoles and has a 40GB hard disk rather than 60GB. It also has fewer USB ports than the full version. The price of the 60GB model has also been reduced from £425 to £349. I still don’t think I would buy a version that is not backwards compatible, no matter how cheap it gets.