This week rumor spread that the 60GB Sony PS3 would see a price-cut in the U.S. triggered by leaked Circuit City ads. Sony President Ryoji Chubachi was quick to deny any Sony PS3 price-cuts on Friday.

Update:
Sony PS3 Price-Cut Official and 80GB PS3 coming

PS3 Fanboy reports that several consumers across the United States report that at some Target retail stores they were able to buy a 60GB Sony PS3 console for a new low price of $499. The $499 PS3 deal was also encountered at a Circuit City store.

$100 off is a serious price-cut. In addition the Blu-ray consortium is running a summer promotion that gives you 5 free Blu-ray movies when you buy a qualifying Blu-ray player. The Sony PS3 qualifies. It is still unclear why the Sony PS3 cut is not in all stores of the retail chains where the new prices have been found. This adds a bit of a mystery and question mark to the story.
The E3 Summit 2007 starts next week. A Sony PS3 price-cut would be a cool thing to announce for Sony.

Details about how to claim the 5 free Blu-ray movies can be found on the Blu-ray Savings site.