the ps3 probably wont cut price because of the newly announced metal gear solid bundle.
the ps3 has some of their own big releases this spring with gran turismo 5 prologue and haze.
i dont think a 50 buck drop by MS would make that big of a difference. yea they might take a lead in sales for a couple weeks, but with all the ps3 games coming out after mgs 4, i expect ps3 to be on top.
having madden in the summer doesnt really help console sales at all, every console has madden.