$300 is not that bad to be honest, and 50 bucks extra for some more space and a year premium, whatever that means... hopefully it's something more akin to PSN than Xbox Live.
However, if they just use the same numbers for the EU and price it at 300?, I'd be less on board.
I'm pretty much guaranteed to buy one eventually though, since Bayonetta 2 was recently confirmed for it. :3