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I wager mid November with no qualitative changes within the dynamic, and I wager late October if there are, because I take Microsoft at their word. Not prone to bullshit are they. There not going to let Sony seize, and own a pricing advantage. They will probably respond in kind, and may actually do it preemptively to make it look like Sony is responding.

Show me a 360 for $150, and I will show you a console that will start to literally fly off shelves. That would be far more effective then a $300 PS3 no matter how slim it is.