PlayStation 3 ConsoleIf you're thinking about buying a PLAYSTATION 3 I recommend giving it a few days.

Right now the internet is abuzz with rumors, started by GamePro France that a major announcement is set to come from Sony On October 11th. While we know relatively little about what the announcement actually will be word is that Sony is referring to it internally as the "Big Bang."

With the holiday season fast approaching you can bet that this "Big Bang" has something to do with moving units. Could it be a price cut?

Interestingly enough ars technica is reporting that a $399 PS3 is in the works.

In the meantime, you can see what Sony has done: the company has focused on reducing the cost of building the PS3 while also closely watching how sales of lower-priced units are doing. The time is ripe for a new PS3 model to hit the scene, and we strongly believe that the company is about to launch a $399 PS3 in time for the holiday season.

Are the rumors related?

If you're considering buying a PS3 I highly recommend waiting til the 12th just in case - no need to spend more money than you have to.