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12GB PS3 Coming August 18th

PS3
A new 12GB version of the PS3 is making its rounds on the internet today after a report earlier from Engadget. The report mentioned a previous statement from John Koller, SCEA VP of marketing, discussing how the 12GB model would not be coming to North America, and is only for the Europe and Hong Kong markets.

This, like Microsoft’s policies, seems to be going through a reversal.

A PlayStation Lifestyle rumor points out that the 12GB PlayStation is coming to both Canada and the US on August 18. In fact, The Future Shop (a Canadian store) has the 12GB PS3 listed “In Stock” for $199.99.

Engadget later updated its article with an image from a US Kmart stockroom showing the 12GB PS3 packaging and a “do not sell until August 18” sticker.

I’m concerned that the price is too high for such a low-memory model, especially considering the PS4 is on the horizon. Would you pay this $199 for a 12GB PS3 when you can, as Engadget points out, get a 500GB model with GTA V for just $70 more?