It seems as if Barnes & Noble and Amazon may have a price war going on. Barnes & Noble recently released a WiFi-only Nook for $149 while slashing the price of the full-featured WiFi + 3G Nook to just $199.

Amazon caught wind of the new price-adjustment of the Nook and acted accordingly–by dropping the price of the Amazon Kindle e-reader from $259 to $189, undercutting the Nook by $10 and reclaiming their position as the most affordable e-reader on the market.

According to Consumer Reports, the Amazon Kindle is not just the most affordable e-reader, it also ranks the highest in terms of performance, readability and portability, beating out nine other competitor e-readers including the Barnes & Noble Nook, the Apple iPad, Sony’s Daily Edition and Touch Edition, among others.

With the $70 price drop, will you be going out and purchasing a Kindle?