This time an “industry source” (naturally) indicates Sony will drop the price of the PS3 by $100 just before the release of EA Sport’s Madden NFL 10, in mid-August. Believe it or not (I certainly don’t understand it) the yearly release of Madden is actually a big time for the gaming business, and of course back-to-school time seems to result in massive spending sprees, even on things like gaming consoles that have absolutely nothing to do with school.

But here’s the real question: Even if this rumor is true, will $100 be enough of a price cut to compete with the other consoles out there? Even $100 off isn’t going to make the PS3 cheaper than a comparable Xbox. Nevertheless, in the frenzy of back-to-school spending, people might just see a $100 off sign and start grabbing for it, regardless of the price. So keep your eyes open, maybe this round of PS3 rumors will turn out to be true.