I purchased a PS3 in December. I think the price drop would be nice, but caution the buyer to see what is included. My bundle included the 80G model with two wireless controls, the blue-ray remote, an HDMI cable, and two games (I paid $500).
Never forget that if it only comes with one controller, it is almost $60 US for a 2nd one. The remote is $30-40 US, an HDMI cable is another $40US, and the games are close to $60US a piece).
As for the “cheap” blue-ray players … check what they have. Some do not have any way to go online and update to any new firmware. These also lack the ability to download BD-Live extras. I decided to get the PS3 because it automatically updates, has a quick wireless and of course the faster LAN connection, and it plays some great hi-def games to boot :-).
It made a great addition to my 42" 1080