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Legend11 said:
The 360 Premium was already $100 cheaper to produce a year ago than the PS3 40gig is now. Who knows how much it's gone down in production costs since then.

Yes, but we should keep in mind Microsoft is forced to spend much more cash on service (personel, coffins, couriers, components etc.) than Sony. I'm sure upcoming X360's price cut will be a difficult decision also for Microsoft gaming division. In Europe price cut won't help. 

Sony moved GT5P launch to April. It's a very smart decision. Two big games in one month. One extra reason to buy a PS3 instead of X360 during GTA4 rush. It will work perfectly.