Don’t be too happy with the news of a cheaper 40GB PS3 hitting the European market for €399 – this is but a crippled model. It comes with half the amount of USB ports (normally numbering four), lacks multi-memory ports, and is not backwards compatible with the PS2 in any way whatsoever. The last exclusion is extremely puzzling, especially when it is software emulation that does the dirty work. Would you pick up the 40GB model this October 10th if you were residing in Europe?
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Seen at: joystiq 
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