I doubt it'll drop in price much further. Its new competition, 4850, costs $200. Plus g92 8800gts is being phased out soon. The more expensive 9800gtx, which use identical parts and offer identical performance, but has a higher numbered name and fatter profit margin, will linger longer.
As for mir, expect 1-3 month. That's how it works. They want to keep your money as revenue.