After numerous rumours regarding the existence of the PS3 Slim, Sony has finally unveiled (confirmed?) the latest incarnation of it's console at Games Con 2009.

So far, it looks like unit will be retailing for $299 which equates to about R2400 according to the current exchange rate. Although, we could probably expect about R3000 for a unit once it hits our shores. As a bonus, if you do not want to wait for the slim-line model, you can now buy the current PS3 models for the same price. This would explain why Sony has been holding out so long with the high pricing of the PS3, while we have seen steady price drops on the Xbox 360 for a while now. Sony was obviously waiting to announce the price drop along with the PS3 Slim.

Feature-wise, there's not much to talk about. Aside from sporting the new PS3 logo, the machine is pretty much a standard PS3. In slim mode.

One of the things I was desperately hoping for, was full backwards compatibility with PS2 games. There was a time when this looked like it might come true.

Unfortunately, it has been confirmed that the new slim unit will indeed, do software emulation of PS2 games. This means there will be a few PS2 games that will NOT work on the new PS3.

So if you want full backwards compatibility with your older PS2 games, you're still better off trying to find a uesd, working, first-generation PS3 60GB model as those have got the PS2 Emotion Engine installed, thereby giving you full hardware support for older PS2 games.

All in all, the release of the PS3 Slim was almost expected and Sony are pretty bad at keeping their little secrets under wraps. Remember the PSP Go?

The question still remains: Would I buy one? Previously, the PS3 was retailing for between R4500 and R5000 a unit in South Africa. If we can assume that it will retail for between R3000 and R3400 when it hits our shores, you have to compare it with the closest competitor. Interestingly enough, the Xbox 360 Elite is now also retailing for $299. That would bring it's South African prices into exactly the same price range.

Now when you do a feature comparison, the PS3 starts edging forward with regards to value for money. It has free online play, while the Xbox has subscription based online play. It has a Blu-Ray player, while the Xbox has a DVD drive. It has built-in wireless, while the Xbox needs a R900 adapter to be able to go wireless.

Previously, all these feature comparisons didn't help at all, plainly because the PS3 had more features for MORE money. Now that the two consoles are going to be in the same price range, the argument for owning a PS3 is starting to take some ground.

For the first time, my opinion of the PS3 is slowly starting to change...

Would I want one? Yes, I wouldn't mind owning one. Will it make me let go of my Xbox 360? Not a chance.