Retailers never lie: SCE Australia have sent through word this morning that the 40GB PlayStation 3 will be launching in Australia on October 11, for the price of AUD$699. Hardware specs are obviously the same as everywhere else: no multi-memory card port (DEAR GOD NO WHY?), two less USB ports and no backwards compatability. SCE Aus boss Michael Ephraim:

The introduction of the new PS3 has been the result of extensive research into the entertainment needs and preferences of the next generation of PS3 owners. It has allowed us to deliver an extremely advanced, yet incredibly affordable High Definition gaming and entertainment system, configured to the needs of the next generation of PS3 owners.

$700's a start (it's AUD$30 cheaper than the 360 Elite), but affordable? Bit of a stretch. Sadly no news on a reduced price-point for the existing 60GB Starter Pack, but it's Saturday morning here, we'll get those answers on Monday.