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superchunk said:
Price cut will likely be closer to August or September to prep for holiday sales... or maybe after Nintendo/Sony do their price cut.

Plus, this doesn't really mean no price cut, just new bundle.

Exactly. Price cuts almost always come in August or September. The X360 will drop to $249 (and around $179 for the gimped version) in Aug/Sep.

E3 MS conference will concentrate on other things.