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Carl2291 said:
Kinda.

Although this time, Sony have a HUGE exclusive system seller, which is at least one thing to try combat the pricecut.

If Sony don't do anything substantial though (Colours, $50 Cut, system selling game for Move), MS will likely walk away with it for another year.

I wouldn't expect a PS3 cut, but I think you'll see attractive GT5 and Move bundles, and maybe larger HDDs.  On Microsoft's end though, I also suspect we won't see a cut and they'll just SKU reshuffle again (ie: bring back the Pro at $199, phase out Arcade, maybe throw in Natal for free, upgrade HDDs to 120GB/250GB).  I also really think we might see a new 360 "slim" to coincide with Natal launch, it's really now or never for a redesign...