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I think a price cut for GTA would make sense.... One before then only if Sony started to beat 360. If Sony stays behind there is no pressure for Microsoft to do a cut. They don't need to spur overall demand because they have reached the 10 million critical mass mark. They only have to stay ahead of Sony now.

Nintendo isn't really their competition because they don't have the tools to compete... Namely a large number AAA family / social games that everyone would like to play.