PS3 dropping like it's hot

As was first reported by bargain site superstar speedy1961 on DVDTalk and Cheapassgamer, Circuit City will be carrying the PS3 for $499.99 the week after next. From 7/1-9/30, Sony is also running a promotion where you receive five Blu Ray movies with the purchase of a PS3. This is huge news. I'm getting more and more tempted to buy a PS3, especially since I have about $215 of rewards from my credit card that must be used on Sony products. The problem is there's like three or four games I want, so how much do I want to spend on a Blu Ray player? But if anyone out there is thinking about buying a PS3 in the next week or so, wait until at least 7/15.