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Both Sony and Microsoft have completely lost the plot if the 720's retail price is true. I can see a Wii U $50 price cut coming soon which will leave the Wii U being $250/300, the PS4 being $450/500 and the 720 being $500.

With a few more 'hardcore' Bayonetta 2-esque exclusives revealed at E3 Nintendo could make a killing.

Forget about the $99 360, the biggest news is yet more talk of always online and a ridiculous pricepoint for the 720.

We could end up seeing the Basic Wii U being half the price of the 720 and the PS4 not being too far off it as well (by my guesstimations).