I really hope this is true. I'm trying to create a backlog for this summer - I've currently got $89 GS credit and wanna blow it on a few older PS3/XB360 games like Red Faction: Guerrilla, Fable II, Fallout 3, Banjo Kazooie: Nuts and Bolts, Halo Wars, Mass Effect, MLB 09: The Show, GoW Collection, etc.
Hopefully the sale starts on the 25th! /crosses fingers