Assuming the Arcade bundle pricing is true, that means one of two things:
1. They'll still sell a standalone Arcade for $199, which means Natal will not come with all future 360s, thus relegating the device to mere peripheral status and decreasing the likelihood it'll gain mass acceptance.
2. Natal WILL be bundled with all 360s, thus elevating the 360's baseline price to $299. This fits with all the talk of a relaunch, new platform, etc., but it would remove the $199 advantage.
Either of these options seems like a bad idea. I was fairly certain they'd bundle Natal with both current SKUs and keep their prices the same. I'm still inclined to believe that is the case, given the $149/$299 prices are as of yet just a rumor.
Edit:
Of course, MCV could have the pricing details right, but the SKUs incorrect. For example, I could see them bundling Natal with the Elite at $299 (as opposed to the Arcade), then maybe dropping the standalone Arcade to $149 (retaining its position as the stripped down, core model).
Though this wouldn't quite fit with Microsoft's pricing strategy. As it stands, the Elite is basically the price of an Arcade ($199) + a hard drive ($99), with a few small freebies tossed in (headset, etc.). A Natal bundle at $299 would be throwing in a hard drive ($100), Natal ($149??), and those other freebies for only the added price of Natal ($149). It'd be like getting the hard drive free, which I doubt Microsoft would be inclined to do.
