Palm picked a pretty nasty time to stage their own revival. Smartphone prices are plummeting. If an iPhone 3G S at $199 wasn’t enough, HTC’s Hero for Sprint further mucks things up by coming in at just $180. The only choice Sprint and Palm have at this point is to undercut everyone – and it looks like they’re about to.

PreCentral just got a tip containing a brand new pricing sheet for an unnamed retailer, with prices apparently good from tomorrow (9/8) till the end of October. Follow the trails until “Net price to Consumer after MIR” and “Palm Pre” cross, and there it is: $149.99.

That’s a full $50 bucks off the current going price, dropping the cost of entry by right around 25%. What do you say, Palm-holdouts: is that enough