We received some juicy information about an imminent release date and pricing. Initially, we had info that the Pre is looking to launch during the late April to May period but now it seems that it will launch in May. That’s quite a time line in getting the platform optimized and tweaking out any bugs that might be lingering. Everyone in the industry is looking forward to this device that boasts some new innovative hardware and software features. It’ll be crucial also for both Palm and Sprint to knock it out of the ballpark with the Pre when it comes out. With the economy still trying to get over a global slump, pricing may also come into play for a lot of people looking to purchase it. We’ve been told a rumored subsidized price of under $200. At the $200 price point, it would play with the current crop of other premier touch screen phones such as the iPhone 3G, BlackBerry Storm, and G1. If the lowest price for it were to be $150, then it would seriously cause some strain to the other competition. Investors will be looking intently on how everything will pan out in the near future, with both Sprint and Palm banking on a hit to become a powerhouse staple once again.

PCMag’s Sascha Segan often has interesting details and now he reveals some information about the Pre. Unlike previous rumors, it seems that cool smart phone will not cost an arm and a leg, but $200 to $250 with a two-year Sprint contract. The plans it will run on will be similar to these of Instict. Other US carriers will get it no sooner than 90 days after Sprint does, so if you want to be cool, prepare to switch your carrier.

Sascha also says that Palm will approve all apps in the Catalog, but unlike Apple will test only if they work correctly, not if they are “good or bad”. Other “Pre” models are also said to be in the works, with rumor about a lower-cost candybar QWERTY-less phone coming. Let’s home February’s MWC trade show will reveal more information about the other Pre versions and hopefully new models.