Two theories on this somewhat unusual price point:
1. Sony is lowering MSRP out of the kindness of their collective heart.
2. SotC isn't turning out quite how they (and everyone else) had hoped. Tons of flaws will leave a bad taste in the public's mouths.
I am the original ICO fan, while you fools were playing SH2 I was busy holding hands with a girl, but shit man after the E3 demo even I can't get excited for this game.
Sadly, I felt the same. I loved ICO, and was so looking forward to this game, but the E3 demo was so underwhelming and disappointing. Here's hoping for some major polishing before release.