I think it wont be to high in price. Won't be alot more than the Xbox 360.
In PSM magazine,February 2006, Issue 107 is says, and I quote:
"$600-700?!
No. Sony isnt stupid. It is, however, keeping its lips sealed on the actual price point for now. Wehn we recently spoke with SCEA president and co-COO Kaz Hirai, he essentially said that you will feel that the PS3's capabilities are worth the price they're going to be asking. He also pointed to their history in providing a lot of bang for the buck, in particular the PSP value pack. That said, our developer contacts are all expecting the system to debut for, at most, $399. Yes, Blu-Ray Disc is new and expensive, but Sony will be willing to swallow the cost for long-term success. PS3 could potentially be facing a sub-$300 Xbox 360 when it launches in the fall, so a price point double that would be retail suicide. Last we asked, Sony has every intention of staying alive and well in the console race"
I don't know the author of the article.