Since the price is now around ~17.00, does that mean we're back to an earlier difficulty? I just got a 5850 going @ 350mh/s in addition to my 5830 pair @ ~550tot so it's kind of hard to tell, but it seems like I've been getting a lot of BTC today.
If not, if the price remains low, does that mean it will eventually reset to an earlier difficulty?
Difficulty is calculated every 2016 blocks, so no, the difficulty is not changing.
Is it likely that if the price stays this low or goes lower that difficulty will decrease?
Well, there's many people here who don't quite understand reality that would like to believe so, but if you'd like a more accurate analysis of why it won't decrease anywhere in the near terms (6 difficulty adjustments or more), browse my recent posts on the subject.