Americans and Brits will ensure that this ends in a draw this holiday (give or take 100,000+ or 100,000- for either console).
But it doesn't matter, 360 raped ps3 last holiday so they are just letting sony put all their cards on the table.
Microsoft have plenty of room to make not one more but even two more price drops (sony simply dont have that luxury).
If sony doesn't make a big enough dent in to microsofts lead over the holidays then i'm afraid theres no way back whatsoever (lots of big hitters already released on ps3, not many console sellers left)
Come spring-summer 2010, Microsoft will be dominating again (best line up of games that i have seen in a looooooooooooooong time)