I really believe that those who think this is a fake are going to be sorely mistaken. Bottom line is Sony is desperately trying to cut costs in manufacturing the PS3 and the redesign makes sense. Look at the original PS2 compared to the slim PS2, external power supply, motorized disc tray removed.
As much as some of you don't want new PS3 to look like that, bottom line is no one bought a PS3 based on what it looks like. It will still play PS3 games, include a 120GB hard drive and have 2 usb ports along with the same A/V ports in the back as the original PS3. I do think that the price cut won't be much, probably only $50. Even at $50 off Sony is going to loose a lot of money.