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No, pretty sure it isn't.

You could say that people choosing to buy a PS3 instead of a Wii would help them, sure. However, that isn't what will happen if a PS3 gets a price cut. When HD consoles had price cuts in the past, the Wii remains unaffected, while the other HD console suffers. Just look at what happened to the PS3 in 2008. Microsoft definitely does not want that.