Rumor: 40GB PLAYSTATION 3 Coming To U.S. November 2?

The Hollywood Reporter states: "We're hearing Nov. 2 (for the U.S.)," according to an industry insider over at their site.

The 40GB system will retail for less than current PLAYSTATION 3 models, most likely dropping down to the $399 price point. However, it will lose 2 USB ports, memory card readers, and will also lose any support for PS2 games.

[Via PS3 Fanboy]