As reported Sony will not cut the price of the Sony PS3 for the Holidays. You only get the new 80GB PS3 for the normal price of $399.99. Dell just announced a new coupon giving you 15% off on Electronics in the Dell Home store. I just tried to apply the coupon on the PS3 console and it worked. I would get it for only $339.99 ($60 off).

The new Dell Coupon code: PWXNZVNDRWWX1P expires on October 29th or after 3,000 uses. Excluded from the 15% discount are Dell Ink and Toner, Dell docking stations, Software, Power, Batteries, Monitors, TV's, and Cameras.
I am not sure if there will be actually a better deal on the PS3 than that in the Black Friday and Thanksgiving Sales.
If you want a PS3 than consider buying one now on Dell. There is also free shipping on orders above $129.