Rumors were widespread that due to some of the components that make-up the soon to be released Sony PlayStation3, including a DVD drive and highly powerful cell processor, the retail price would be on the higher end, that might be considered somewhat of an understatement now. At a news conference yesterday, Sony said it will sell two versions of its next generation PlayStation3 console starting at $499 for the lower end model and increasing to $599 for the more powerful, higher end model. Yikes, that is a serious chunk of change we are a talking about. Yes, clearly, there are some die hard PlayStationers out there that will have no problem shelling out $600 to get their fix or better yet, probably hitting up Mom and Dad for an early Christmas bonus. However, once that portion of the market is fulfilled, I can't imagine them continuing to sell the console at such a premium to the already existing Xbox 360 system which is selling at nearly half of what a PlayStation3 will cost. Gaming analysts were unimpressed with Sony's pricing announcement yesterday saying many of the new features on the PlayStation3 are already on the Xbox 360 system with the main exception being, the very expensive and much publicized high definition Blu-ray DVD format. Based on yesterday's reactions from gaming experts and analysts, the company has a lot of work to do when it comes to marketing the unique benefits of PlayStation3 before the console hits stores this fall.