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It`s only natural. Xbox 360 was the first to arrive - and if not for Kinect it could be selling worse or have been replaced last year or this year.
I don`t know if a price cut will help for MS and Sony aswell. Console prices are still too high for a 50$/€ (don`t see it being more than that) will make that kind of sustained impact.
Thruth is, Wii U is around the corner and even if Xbox 360 goes to 149, it will be the bare bones model, because the ones with Kinect and/or a higher HDD, will be about 200. If Wii U launches at 300 and PS3 gets a similar price cut to the Xbox 360 i just don`t see either MS and Sony enjoying a sustained sales boost.

If the cut happened in a time where the release of a new console wasn`t imminent i could see MS and Sony taking more benefits from it.
If we were talking about 99/149 prices for the 4GB/Kinect consoles, than things could be different.
I think both MS and Sony took to much time to cut prices.

Still, i don`t really think that MS needs to cut the price now seeing as Halo4 and COD BO2 will push it up really well for the season!