I've seen it priced at £199 at Gamestation.co.uk i believe.
The biggest disappointment is that your current hard drive or memory card isn't compatible with the new console, i'm unsure whether or not the transfer data cable is compatible though.
There is a new transfer cable for this, or you can just use USB drives (they added support for these last update) to move across your saves etc
And yes the UK RRP for the 250GB is £199, but it's already going cheaper in places