I think 360 still has a lot of life. I expect MS will drop the price by $100 once the Falcon units come out (much cheaper to produce and much more reliable). This will have 2 major effects:
Eliminate the fear of RRoD problem
Drop the cost into the magic $300 range where mainstream gamers will gobble it up for GTAIV and to a lesser extent Halo 3.
I fully expect 360 to trump PS3 this holiday season (but Wii will continue to dominate), but it may be the last time they ever do so...







