After initiating the first on-contract Galaxy Tab price cascade back in December that quickly led Sprint to respond, T-Mobile may chop subsidy prices again today for the 7-inch tablet to just under $250 (after a pesky $50 mail-in rebate). Together, that's only $62 more than the bargain bin CherryPad, which should infuriate early adopters who paid double that only a few months ago, not to mention sober up Samsung. However, when you consider that pseudo-4G tablets like the Dell Streak 7 and LG G-Slate will join Magenta's lineup soon, it is a viable strategy for extending the Tab's consumer appeal in this viciously competitive Android tablet world we live in. Then again, if the dual-core processors teased for the Tab's successor actually pan out, we doubt Samsung will need any assistance getting back to its smug position on top of the Android heap. We'll be keeping our eyes peeled on T-Mobile's site today and be sure to update should the price change actually materialize.

Update: A recent peek at T-Mobile's site shows the price drop is now official. If you're in the UK and prefer buying the Tab unsubsidized, Amazon and Tesco have also chopped their prices to a palatable £341.24 ($542) and £359.20 ($571), respectively. Thanks, Raphael and Rupert!

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T-Mobile expected to cut Galaxy Tab pricing to $249.99 (update: drop is official!)