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All 3 Consoles are going to have price cuts next year.

MS will drop the 250G to $249 US first sometime next year, widen the gap a bit, then Nintendo will do a $50 price cut and then Sony will make 160G $249 US to reduce the gap the X360 created when it got the price cut. So for example if the Gap was 5.5 Million before X360 price cut, it'll become a 6 Mil Gap after $50 price cut. Once the PS3 gets a price cut then that's when they'll close the gap back to 5.5 Mil.

That's my guesses.