It looks like the rumors were true and the 80GB PlayStation 3 is in fact going the way of the dinosaur. As retailers try to dump their remaining inventory, news that the more spacious PlayStation 3 model is on its way out was only heartbreaking for a few days. The move is now making a lot more sense of course, when considering the latest rumor to emerge from the gaming world. It appears that Sony has ditched the 80GB model because there will soon be a new sheriff in town. A meatier model is reported to be just over the horizon, boasting 120GB – 160GB of storage. Further details are still trickling in, but it’s said that the newcomer will ship with the highly-coveted Dual Shock 3 controller, which isn’t widely available outside of Japan at this point. The best news, which of course is the worst news for those who have already shelled out the cash for the 80GB model, is that the new model will come in at the same price point that its predecessor sold for. Nice! Word on the street is that the 40GB model should receive a 20% price slash around the same time. That brings the 40GB down to a svelte $299 and twice the price will bring you three to four times the storage with the upcoming model ringing in at $499.