40GB PS3 Going Bye-Bye?

Looks like more action coming on the video gaming hardware front.

According to Engadget, the PlayStation 40GB model will be replaced.

Based on an alleged Wal-Mart spreadsheet, the 40GB PS3 console "will be replaced with [a] new model in early August."

But just what this means is open to interpretation -- maybe just a sweet plastic Olympics medallion to commemorate the occasion or a fancy new vibrating controller, so don't go thinking that an entirely fresh form factor is just around the bend.

But wouldn't that make it more interesting ...