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Nope, because with Kinect the 360 is effectively recieving a price hike.  From now until the Fall we'll only have a $299 slim once the old SKUs are cleared out, and come Fall they'll only have the $299 and $399 Kinect bundles as far as I know.

They're throwing away their $199 price point on the notion that Kinect will give them a significant boost in demand.  They've effectively handed Sony second place, provided Sony doesn't do something equally as silly

Microsoft will have a nice bump in sales in the near term, however, thanks to the price drops on their old models.