Yes, by alot.
Isuppli, last year, did a cost analysis breakdown of each console. The Xbox 360 was costing Microsoft, as of last November, roughly $323 per Premium unit.
I'd assume by now it's well under $250 per premium unit. Now, having said that, that doesn't include massive marketing and packaging costs.
So by now, Microsoft is making a hefty profit off of the X360. Now, if you wonder why it isn't showing up in P&E statements (sans last quarter being so great): since MS has made money on the consoles (which would of been post-Christmas), sales took a nose dive. For the first 2 quarters they were in the red this year, they failed to ship anything over 1m units. Because of this, you really can't make cash on a profitable console: all of your profits are going elsewhere. And you had/still have the RROD issue eating into profits. MS has most likely taken care of the vast, vast majority of issues via the heatsinks and falcons. Because of this, profits should take an upturn.
And lastly, Microsoft itself had predicted that after Q1 2008, the Xbox 360 would always be profitable. It seems that they were right in their analysis, as it seems that everything now should make the X360 profitable, since the hardware has been profitable (for the most part) from probably early this year.
Back from the dead, I'm afraid.
