I don't think we'll see any price cuts from either camp this year, instead both MS and Sony will probably focus on their new motion technologies to add "value" to their current offerings (Elite + Natal for $299, etc.).
The only opportunity MS has to change the status quo this year is Natal. If they can really push that and make people care, they can turn the tide yet again. If it doesn't take off, or if Sony's wand thingies counter any effect Natal might have, then things will remain as they are, with the ps3 topping the 360 by 40%+ a week.
Natal is their last chance to stay in second place. If it fails to gain significant traction, the ps3 should pass up the 360 by mid-2011. Of course, a price cut in 2011 could see MS wipe away any lead Sony might've have taken. Though I expect the ps3 will also have a price cut by the end of 2011, so it could all even out.
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