Sure it was an absurd price to launch a console, but it was actually cheap considering what the box was capable of. The problem was more to do with the console simply being too expensive to manufacture, than overpriced.

Looking at the NGP — and its outrageous specifications — it's easy to see why some forum posters are worried that Sony will do the same thing. Without giving away the final price, Shuhei Yoshida has reminded readers of EDGE magazine that Sony remembers the $599 fiasco just as well as everybody else.

“I can’t talk about a definitive price at this stage. But since the very beginning we had a target in mind. So, when considering various features, we always had our price range in mind,” he said.

“There were elements that we found pretty cool, but had to set aside to remain on target. It’s a big lesson we learnt from the PS3. There’s no point putting everything you want into a device and doing the math later. We always had the price and consumer in mind. We had to sell something that people could buy.”

We'd put good money on a $349 launch price right now. It's premium enough to represent the device's capabilities, but also close enough to keep it within touching distance of the 3DS. It's also significantly cheaper than an iPad, which we suppose factors into these things.

If Sony wants to come out and offer this thing for $299 though, well, sure — go ahead!