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If Sony gives Europe the much needed PS3 price cut it needs, it could get a worldwide edge on the 360. The ONLY way the PS3 can win this holiday is if Nintendo has absolutely not started stockpiling for the holidays and the 360 bombs badly in Europe compared to the PS3.

The 360's lineup is gold for the NA audience, so I don't see the PS3 beating it there. I'm not sure what the PS3 has for Japan during the holidays, but I don't see the 360 beating it there simply because of the rate of adoption for Blu-ray and HDTVs. Once again, Europe is Sony's savior. If they can distance themselves comfortably in EU, they might be able to edge the 360 out.