The saga of the PS3 price cut continues, and this time, Target is tossing their hat into the rumor ring.

Several Targets around the country have the PS3 in their system at $499.99 right this very minute, according to Internet reports. They claim several stores in California and Florida have listed the PS3 at the reduced price, and people are happily talking about their new purchase. However, PSXE contacted several stores in the New England area, and none say they have the PS3 for anything less than $599. They also hadn't heard of an impending price drop.

In addition, more reports have surfaced regarding Circuit City stores selling the machine for $499, but none of those have been confirmed. What exactly is the deal, here? We'll keep an eye on this, and see what happens.

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