I thought rrp was still £250?
Anyway, no way in hell the PS4 is £299. Quote my post later and mock me of the impossible happens, but I just can't see it being the case. People are saying nothing in this is particularly expensive, but if you were to buy parts closest to these for a gaming pc, just think how much it would cost. Obviously they barely make any profit on these, sometimes even a loss, but my guess is still £350-£400. Guess we'll have to wait and see.
The economy is struggling at the moment, especially gaming side, so it'd certainly be hugely beneficial for them to keep the price lower. £425 like the PS3 would be suicide. I think past £350 they're cutting away a huge portion of their buyers, even past £300 really. But due to early adopters and new tech, I don't see £299 being realistic.