GameStop currently has the 160GB version of the PlayStation 3 listed for $199.99, which is $50 off the retail price. Hardware doesn't frequently go on sale, so this is either a sign of things to come or simply a random promotion. No other major retailers have shifted the price of the console.
GameStop is also currently running a bundle deal on the PS Vita, offering a free game and case with purchase of the system.
We've contacted the company to find out if the sale is a one-off deal or it's here to stay. You know, E3 is only a little over a month away.
Update: The "limited promotion" sale ends April 26.