I would agree with wages being less in the states but it depends where you go and anybody who has recently been will notice the sharp rise in costs in general, e.g glass of Stella (not a pint, about as much as you get in a bottle of bud/becks) $4.50, that works out at around the $9.00 per pint or £4.50 in our money, the place aint as cheap as people harp on these days.
Regards PS1 being launched at £400, it was actually launched at £299.99 and came with playable demos of Demolition Derby and some soppy platform game among others.
The crux of the matter is, a lesser console for more money, they are stiffing us and even if it does come down in price, by the time it does we could be looking at another dead format like the Philips CDI or the Panasonic 3D0 so you wont be able to get any games for it. Given that some software houses have pulled out of development for the PS3 already, this could run true and serve them right.
Come the revolution, brothers unite, lets dig up Wat Tyler, He'll know what to do.