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amirnetz said:
He forgets that Q4 in 2009 will not have the price cut growth effect over Q4 2008.

Not so sure about that.  The rumoured 'Valhalla' chipset is expected to be released by the end of 2009, which could reduce the cost significantly. 

source: http://www.electronista.com/articles/08/02/15/xbox.360.valhalla.rumor/

I think it's within the realm of a possibility, but as its been said before it's yet to be determined what the competition will do.  MS could even justify taking a slight hit on the consoles too as a predatory pricing 'nail in the coffin' move, if they're more than making up for those losses with high game attach rates, live subscription fees, crazily high profit accessories and arcade game sales.