Yes you've heard right, all those rumors we knew were true have been confirmed at Gamescon in Germany. The new PlayStation 3 Slim will boast an impressive 120 GB hardrive, contain two USB slots and use less power than the previous PlayStation 3 models, 34 per cent to be precise whilst obviously being smaller and lighter. As for pricing Sony has gone on a rampage with the numbers 299 meaning the US version costs $299, the Europeans €299 and the Japanese 29,980 YEN. That means that at the current rate of exchange a PlayStation 3 Slim should cost around $360 Australian Dollars. Apparently that isn't going to be the real price as IGN has reported the Australian price will be $499, a lot cheaper than the current retail price of $699 but I like my price better. The new PS3 Slim is set to be released worldwide in the first week of Septemeber, the 3rd to be preices in AUS but if you can't wait till then Sony has also announced that all existing PlayStation 3 models will now retail for the 299 prices. I'll have to keep any eye on when the Australian retailers actually implement this as I looked at Sony's Australian website this morning and it was still $699 but I'm sure it'll change very quickly. This is a big announcement for Sony at Gamescon although one everyone expected. I'm quite happy with it as it means a PS3 is now so much more affordable and it just means I have to decide whether I want a Slim or a normal PS3. Tomorrow is Microsoft's turn to wow the crowds at Gamescon and I'm interested to see what they have to say.