"The time to act is now, Sony (NYSE:SNE). Give me cheaper systems or give me death. For your sake, I hope that the rumors of a less expensive PS3 Slim model are correct."
-- Me, six weeks ago

"All right already, you can have your Slims. And we're dropping PS3 prices across the board, just to rub it in. Happy now?"
-- Sony, today

OK, maybe Sony executives don't run their business based on Foolish advice. Still, a svelter incarnation of the brawny, beastly PlayStation 3 is coming in a few weeks, and it's bringing a skinnier price along with it. Current PS3 models with 80GB of hard drive space have already dropped from $400 to $300 apiece at major retailers like Amazon.com (NASDAQ:AMZN). The 120GB Slim lands stateside the first week of September at the same $300 price point.

These price cuts are long overdue, and they should kickstart Sony's hardware sales with a bang. Microsoft (NASDAQ:MSFT) introduced a cheaper Xbox 360 a long time ago, and the Nintendo (OTC BB: NTDOY.PK) Wii was never a $400 monster. The components that go into these video game systems have only gotten cheaper over the years. It simply makes sense to pass the savings along to consumers in order to juice volume sales. Game title license fees, not console revenue, make the world go 'round, anyway.

This will make Activision Blizzard (NASDAQ:ATVI) chief Bob Kotick very happy. Activision's Call of Duty franchise is one of the biggest sellers on the PS3 platform, alongside Take-Two Interactive's (NASDAQ:TTWO) Grand Theft Auto series and Konami's (NYSE:KNM) Metal Gear Solid. The high-powered graphics of the PS3 and Xbox 360 appeal to a hardcore gamer crowd with a thirst for wargaming blood and guts. Expanding the installed user base of the systems itself will also grow the potential customer base for many of these hard-boiled game franchises. By extension, Sony's price cuts are good news for the video game market as a whole.

For $300, you can now get a Blu-ray player that also lets you play some pretty cool games. Would you buy a PS3 Slim at these prices? Let the three-way crossfire begin in the comments box below.

Take-Two Interactive Software is a Motley Fool Rule Breakers recommendation. Amazon.com, Activision Blizzard, and Nintendo are Motley Fool Stock Advisor selections. Microsoft is a Motley Fool Inside Value recommendation. Nintendo is a Motley Fool Global Gains pick. Try any of our Foolish newsletters today, free for 30 days.

Fool contributor Anders Bylund owns shares in Take-Two, but he holds no other position in any of the companies discussed here. He sincerely doubts that Sony's top brass hangs around at the Fool. You can check out Anders' holdings or a concise bio if you like, and The Motley Fool is investors writing for investors.