It seems like the price drop isnt really a price drop according to Kaz Hirai
“We’re no longer in production for [the 60GB PS3], so once that product is gone from the retailers shelves, then we’re back to the $599 SKU only”
So the price drop is for the 60 gig version seems they wanna get rid of the large stock they probably have of these units.
So if you want a PS3 maybe now might be a good time to get one before those 60 gig versions finish.
More info here