A cut to 299$ with a redesign, released in the summer would probably cause an explosion in sales. We all know what happened when PS3 got its redesign and pricecut, we would probably see something similar.
X1 is not the PS3, stop thinking it can ever pull what the PS3 did. It lacks the brand power and world wide sales to do similar.
A cut to 299 will casue a sony reaction, there is a reason they only cut X1 price in NA and caleld it temporary. Last thing they want to do is motivate Sony into a cut of their own. World wid eits bad enough already, a PS4 cut woudl push many marlets to 10-1 sale sin PS4s favor.