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Well, not less than 8 months after launch. I'm sure if most people knew it would drop in less than year they would have waited to buy one. But when your system sells so bad I guess you do what you gotta do. Maybe they were waiting for E3 to do the price drop just because they have an amazing line-up of games to show off.
I do feel sorry for my friend who just bought a PS3 2 months ago. He could have saved 100 dollars.
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Actually, 8 months has been pretty standard for console price drops in recent generations. The PS1, Dreamcast, Gamecube, and Xbox all saw $50 or $100 price drops around then, and with all the complaints about the PS3 because of its price, it was pretty much inevitable that a price drop would happen sometime soon. In general, the systems released later in a generation will have price drops pretty quickly. But again, this is more like replacing the 20GB system with the 60GB one rather than a "universal" drop in price.
Now if only Microsoft would follow suit and discontinue the 360 Core and replace it with the Premium...
There's nowhere I can't reach.