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I find it funny that MS has to do anything to remain 'price competitive' when your competitor is priced so much higher than you are, and even with a price cut will still be higher. It's called fear...they know if the PS3 is at or near the same price, the 360 gets blown out of the water.

I also don't think that Sony is lying about not having a 'price cut'. It's not a price cut, because they won't be lowering the price of the current console. They'll release a slim version with a new price, and if the slim version never had a 400-500 dollar price, it's not a price cut to sell it at 300-400.

I don't think they're lying.