You have to love the world of Internet rumors.
If you go to G4's "The Feed" blog, you will become convinced that Circuit City, starting July 15, will have the 60 gig PS3 on sale for $499. Really! Check THIS LINK! It's a fact!
Umm, but wait a minute there... if you read GameSpot's news updates at THIS LINK, you'll read that Sony representatives are already claiming this rumor to be false... But... but... The Feed was so sure!
The truth is, we're all not going to learn the truth until the price actually drops. And frankly (and this is just my opinion, not an assertion of facts like SOME SITES), frankly I don't know why Sony would ever drop the price of their system when all the games they've been promoting as incredible are just about to come out in the next four months. Companies tend to drop the price on things when there is no reason to buy them anymore, not when they are only just now becoming useful.