Not sure about the cheapest, but it's certainly the best Blu-Ray player available. I'm still glad I spent way too much money on the early version that had full backwards playstation compatibility.

Well, the big Sony announcement has come and gone. It was indeed a price drop as suggested by insiders. Just not for the PS3. In a sign that Sony still cares about the last generation, Sony has dropped the price for their Playstation 2.
John Koller, director of Hardware Marketing, posted this on his PS2 blog.
Hi everyone, the last time you heard from me, I talked about the huge milestone that PlayStation 2 achieved – reaching 50 million units sold in North America. Today I’m excited to talk about another milestone in PlayStation 2’s lifespan. For the first time ever, PlayStation 2 will be offered at a price point under $100 (that’s $99.99 MSRP, to be exact), starting April 1!
Why is this so significant? Well most importantly, this new price means that more people than ever will be able to join in on the fun that so many of you PlayStation 2 owners have been enjoying for years, which means new families will become part of the platform’s record-breaking install base. With this new price, we intend to introduce a new generation of consumers – some of whom weren’t even alive when the system was first introduced in 2000 – to the immense entertainment value offered by PlayStation 2.
In the gaming industry, the typical lifecycle for a console is around five years, but because we build each of our platforms for a large and diverse consumer base, we design our platforms differently. With the original PlayStation and now PlayStation 2, we’ve proven that consumers can rely on our platforms for their gaming and entertainment needs for at least a decade. This speaks to the technology and features that were packed into PlayStation 2 from the beginning, as well as to the ongoing support the platform enjoys from the publishing and retail communities and, well, all of you fans.
PlayStation 2’s unmatched gaming library will grow to nearly 1,900 titles from both our first-party studios and publishing partners this year, with a particular focus on the social and sports genres that are so popular with the emerging family demographic. This will include games such as MLB ’09, Ghostbusters: The Video Game, Guitar Hero Metallica and MotorStorm: Arctic Edge…not to mention the 250 titles that have achieved “Greatest Hits” status. With all of that content, PlayStation 2 is a great option for families looking for ways to share their entertainment experiences together; they can rock out to Rock Band, test their trivia knowledge with Buzz!, or simply use the PlayStation 2 as their DVD or CD player.
So to everyone who’s enjoyed PlayStation 2 over the years, thanks for your continued support. And to those who will now be joining the PlayStation family, welcome!
Not sure about the cheapest, but it's certainly the best Blu-Ray player available. I'm still glad I spent way too much money on the early version that had full backwards playstation compatibility.
"Other theories include a price drop in the PS2 or PSP"
Sounds more like wishful thinking to me. After all, how would a PS2 or PSP price drop be a "Big PS--3-- announcement?"
It is no where near the cheapest, but it is the best, and if they frop it to $300 I'll buy another for the bedroom.
I've seen other newsites posting leaked photos of $99.99 PS2 MSRP, but yeah, SinCity's dead on. How's that a big PS3 announcement?
Not saying I agree with those theories, Sin and Amish. Just putting it up above that some insiders believe it could be a drop for PS2 or the PSP as well.
With Sony, you never know. They say it's a big PS3 announcement and it could be something that they think is big and we think is no big deal.
Like Netflix going to the PS3.
Caught this over at Gamespy.com
"Editor's Note: Since publishing the article, GameSpy has received an official statement from SCEA's Al DeLeon regarding the rumors of an imminent price cut.
As we have stated previously, we do not have plans for a PS3 price drop, and any rumors to that effect are false and are the result of speculation. SCEA remains focused on the long-term momentum of PS3. With the industry's best software lineup this year, combined with our most aggressive marketing campaign to date, we remain confident in our approach and the value we're delivering with PS3. "
Ah well.. No one can say that Sony doesn't suffer from delusions of grandeur..
Well sony is flat out saying a PS3 Price Drop will not be anounced tommorow. If they were denying something they planned on announcing at E3 that would make sense, but as the anouncement is tommorow them denying a price Drop now seems to be the truth. Could be a xbox exclusive comming to the System (eg:GTA DL content, or Gears of War series), or it could be a PS2 price drop and if it is replace "PS3" with "Sony" and remove the "Big" part of "Big Annoucement".
Or a new PSP model could also be announced. You can put the "Big" back in if that is the case.
Maybe @home will go from beta to full version.
Or they just delete that "Chain Swing" song.
Probably a price cut. But even with it's current price, it is still the cheapest Blu-Ray player on the market.