How will Microsoft and Sony respond to the Wii U launch?

[HappySqurriel]

While I could be wrong, I would actually expect the PS3 and XBox 360 to remain (mostly) as they are for the rest of 2012 and to see price reductions early in 2013; and I would expect those price reduction announcements to come at the same event that they announce the 'XBox 720' and PS4 at.