According to the Playstation.Blog (pretty reliable we think!) the Dual Shock 3 is set for release in April this year for $54.99 USD.
The official word is as follows:
DUALSHOCK 3
The final piece of big news coming out of DPS is another much-requested release date: SCEA will introduce the DUALSHOCK 3 wireless controller for the first time in North America in April 2008 for $54.99 (MSRP). Compatible with more than 100 PS3 games, DUALSHOCK 3 has both rumble and motion-sending SIXAXIS technologies. So now you’ll be able to play Uncharted: Drake’s Fortune, Ratchet & Clank Future: Tools of Destruction, and, yes, Metal Gear Solid 4: Guns of the Patriots with rumble turned ON.
So, PS3 owners, not long to wait now. However, us poor souls in Europe are still constantly hitting F5 on our keyboards eagerly anticipating some concurrent news on the subject.