The Japanese import Sony PSP dropped considerably in price. It seems the shortage of PSPs before Christmas relaxed a bit.

Update 04/03/07:
Sony PSP Price Drops to $169.99

Update 03/16/06:
Sony PSP Price Drops to $199

The Sony PSP (PSP-1000) + Ridge Racers Bundle on Play-Asia is now only $449.00 (was $579.00).
The Sony PSP Value-Pack (PSP-1000K) with Ridge Racers is now $499.00 (was $629).

Lik-Sang has also cut its PSP prices. The Sony Value Pack sells for $439.

So if you have been patient over Christmas you saved about $130. Sony PSP prices on eBay are also down and on similar levels compared to the japanese exporter prices.
(Thanks Jester F.)