To spur more games being ported to the PS3, Sony is cutting the SDK price in half. The newest PS console is struggling with lack of sales, high priced (yet sold at a lose) consoles, and lack of games. Developers are inclined to release games on the older PS2 as some of the advanced hardware on the PS3 is not needed. The "Blu-Ray" feature is not drawing expected crowds as the HD format war scares some consumers (along with the price tags); neither format (Blu-Ray or HD-DVD) has moved from early innovator / adopter stage to early majority stage. The PS3 did have a 100$ price cut in July, but it is considered by some analyst as too late. Another small price cut after Black Friday would demonstrate desperation, while another "violet diode cost reduction" reason is used.

Some other stats to look at...

Games available:
PS3 : 140 (including PS Network)
X Box 360 : 500 (including XBox Live)
Wii : 50 (not counting virtual console); 270 (including virtual console)

Worldwide Units Sold:
PS3 : 5.6 mil Nov 2006 to Sept 2007
X Box 360 : 13.4 mil Nov 2005 to Sept 2007
Wii : 13.2 mil Nov 2006 to Sept 2007 (+ 4 mil expected in next 3 months)

Disk based Video formats:
PS3 : DVD and Blu-Ray
X-Box 360 : DVD (HD-DVD with $180 addon)
Wii : No support (DVD support expected someday soon)

Backwards compat.
PS3 : (on 20/60/80GB only) PS2 (hardware emulator) 1600, PS1 (emulator) 1200
X-Box 360 : X-Box (emulator) 390
Wii: GameCube (stock hardware) 544, Virtual Console (multi-emulator) 240

Costs:
PS3 : $399 for 40GB, $499 for 80GB
X-Box 360 : $280 for "Core", $350 for 20GB, $450 for "Elite" 120GB
Wii: $250