Cheat Sheet 8/17: Win7 Phone getting Xbox Live, Epic Games confirms 5 new titles, PS3 now a little cheaper

Get ready for a blast of mainstream videogame news!

-Sony follows Nintendo’s lead and slashes PS3 price tag.

-PS Vita to get social networking, Assassin’s Creed, more

-Epic Games confirms 5 new titles are in development. 

-Gameloft looking to hire 145 new employees. 

-Windows Phone 7 enthusiasts can rejoice over upcoming Xbox Live features. 

-EA unveils FIFA Street, set for 2012. 

Check out the latest Street Fighter x Tekken trailer. 

  –Lana Polansky