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I think it is a first that a console coming in its 7th year (!!!) still has a SKU for $299.

Seece is right about the timing.

September with Gears, October with Forza Motorsport 4, November with Halo CEA and Star Wars Kinect.

Things might look like this:

Xbox 360 4GB: discontinued, available for $149 or even $99 as long as there is supply.
Xbox 360 4 GB with Kinect: $199
Xbox 360 250 GB: $199
Xbox 360 250 GB with Kinect: $249
Xbox 360 special edition with Gears of War $249
Xbox 360 special edition with Star Wars and Kinect: $299

Kinect standalone: $99



Imagine not having GamePass on your console...