Sony had plenty of noteworthy announcements to make at this year’s E3 conference. From an impressive game lineup for 2009, to its intriguing new motion sensing technology, and the proclaimed “worst kept secret of E3,” the PSP Go. But despite expectations that it would lower the price of the PlayStation 3 console, the company had no such announcement to make, claiming that from their perspective E3 “is all about content.”

They’ve long maintained that their platform is a “very good value proposition” when you factor in the default Blu-ray drive and 80GB HDD. However, with sales still lagging behind those of its cheaper competitors and publishers threatening to drop support for Sony’s console, a price cut seems almost inevitable and long overdue. Thus is not surprising to hear that Sony is clearing inventory on the $399 80GB PS3 in advance of “dropping the price of hardware” in the fall. According to Ars Technica’s usually trustworthy source, the company will also launch the rumored slimmed-down version of its PlayStation 3 console around that time.

Furthermore, the site claims the Xbox 360 lineup will see a shift in September, with the 60GB Pro version disappearing from store shelves and the 120GB Elite taking its place – presumably at the former’s $299 price point. The move seems to fit nicely with Microsoft’s plans to offer full retail games on demand, something that would require more disc space than typically available if it is to gain any serious traction.