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You don't wait for a price reduction, you demand it as the terms of a sale. Demand (you) is the other half of the price equation, so waiting for the supply (them) side to set a reasonable price is silly. Course, I'm just repeating myself for the umpteenth time here.
The gen III Prius has some nice benefits over the gen II, such as zero belts. Since everything is electric, there are no accessory belts to replace. Now that the gen IV is out (and long in the tooth), I wouldn't even consider a gen II.
I might be selling my 2012 plug-in for ~$6k with 95,000 miles.
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