I'm not sure if getting rid of the Pro is a good move. Once they're gone, it means that those who would have bought a Pro for $299 (i.e. people that need a 360 with a hard drive, but aren't bothered about the Elite) have no choice but to buy an Elite at $299, so for them, rather than getting a price cut, they're just getting double the hard drive space even if they don't particularly want/need a 120GB hard drive.
All of my 360 owning friends have consoles with hard drives, but out of maybe 8 or 9 people, only 1 went for the Elite. The rest wanted a 360 with a hard drive and there was an option that was considerably cheaper than a PS3 - £160-£170 for a Pro versus £280-£300 for the 80GB PS3, but now it's £199 for the 360 with the hard drive and £249 for the 120GB PS3. Even though both consoles are cheaper, the difference is only £50 instead of £120-£140 which isn't a good thing for Microsoft.
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