http://www.gamespot.com/news/6151565.html
I'll highlight for you.
Sony Computer Entertainment UK has confirmed that the retail price of the 60GB PlayStation 3 is currently planned to be £425 ($799) in the UKSony is dumb.There is no guarantee that the cheaper 20GB console will be launched in the UK. "The lower-end 20GB version of PlayStation 3 has no Wi-Fi, no HDMI, and none of the other slots in it, so it's really a question of where we would position it. It's more likely that we will only launch the 60GB version"
You could buy 2 Wii's and a 360 for the cost of the PS3.