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In my opinion closing the gap to 3 million units is possible mostly for the reasons Jandre already formulated.
Ofcourse the 360 price-cut is an important factor and may alter the trend we have seen throughout this year (-> the PS3 selling better than the 360 in every region), but still I'm quite certain it won't save the 360 from being outsold considerably by the PS3 the comming christmas.
I expect the gap to be at 2.5-4million at the end of this year.