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Seems like 2 companies are going to cut their prices at least:

"We can't comment because it would depend very much on how those guys sell their machines and how ... they can decrease the price of those machines. We think the battle between the three manufacturers will really be very fierce this year. All of them will really push hard to get this Christmas sale. They will act, we think. ...if the machines are going down in price, we can see a big increase of sales on all the machines" - Yves Guillemot, Ubisoft

"Obviously we'll let the hardware guys announce the magnitude and timing [of a price cut]. The fact that Nintendo Wii is still at its launch price and PlayStation 3 is still at a relatively high price point by historical standards ... just look at the hardware numbers and it would seem that a price cut would be in order by at least two of the three manufacturers. Price cuts, again – they are factored into our guidance, our internal model. We do anticipate price cuts coming this Fall ... something on the higher end of the range certainly wouldn't surprise us." - Brian Farrel, THQ

http://www.joystiq.com/2009/07/28/thq-and-ubisoft-ceos-on-console-price-cuts/

Bets? Sony and Nintendo maybe? or Microsoft can lower their cost even more?