PS3 Price Cut Not Permanent

smashr writes: Engadget and GamesIndustry.biz are reporting that the recently announced PS3 'price-cut' is not permanent. As soon as the 60gb model is sold out at the $499 price point (expected to be the end of the moneth), Sony will be discontinuing the model. All that leaves is the upgraded $599 80gb model (sans backwards compatibility).