Apple to Cut prices by 40%???

[Gene Fozard]

The 11 p.m. news in Pittsburgh proclaimed, "Apple is cutting its prices by 40% on its top
of the line computers to spur sales in a slumping market."

Some "quick 'n' dirty" math shows:
"old"   top of the line 1.25 DP - $3294.  40% off = $1900.
"new" mid place 1.25 DP - $1999.  (pretty close, huh?)
"new" top of the line 1.42 DP - $2699.  ($600 less than the "old" top of the line, now
$700 more than the new mid place 1.25 DP.  There was an $800 difference between the old 1
DP and the old 1.25 DP.)

Is this the "40% price cut?"