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A couple things to point out here.

First, the current MSRP of the basic SKU remains $499. That's the price that the majority of the consumer base is seeing. There are currently quite a few individual retail outlets offering hidden $50 discounts off the basic SKU, none of which are permanent. They're being listed as discounts off the regular price.

Second, the games being bundled (some bundle retail units, but I'm seeing a lot of bundled voucher codes which make more sense for retailers) are also dependent upon individual retailers; there is no Microsoft incentive to "pick any Xbox One game with your purchase of an Xbox One" currently being offered.

So yes, you can score a $50 discount in conjunction with a free title of a given retailer's choice, but this is still considered a temporary incentive (limited sale, promotion, discount, etc.) to presumably increase sales and not a permanent change.

These would not have the same effect as a $399 MSRP for the current XB1 base SKU. This is pretty much a given and until we see this, the effective cheaper price of the XB1, when paired with a retailer discount and free game promotion, will do little, if anything to shift sales trends.

I will say that post Titanfall launch, I'm now seeing PS4s in the wild at retail outlets (in cabinets) for the first time.