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I doubt that Play Station will hit the 1 million gap, i mean, I think where Microsoft is right know they only let that happen if they want. They can afford to price cut their Xbox as low as 149~199 or less, last holiday Xbox 360 250 GB was sold for 219 € in all stores of my country and Xbox 360 4 GB for 149 €.

I think if microsoft really wants to stay in front of Playstation till the end they can manage it, it's just a matter of if they want or not.