If MS drops the 360 $100 across the board, they win the holidays over Sony.
A $200 360 with H3, GTA, Mass Effect, Blue Dragon, Lost Odyssey, Bioshock, Assassin's Creed, Ace Combat, and others. Sony has nothing to compete with that.
If they don't drop the price, it will be close. I think the 360 might edge out the PS3 slightly but I'm not sure.

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