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I would have liked a price cut on the whole sku and then an even cheaper Kinect less sku.
Now they risk to see the Kinect attach ratio sink like a rock and loose the willingness of third party developer to even consider a Kinect title.
Something like 429$ with kinect and 350$ without would be better imo.
still, they can compensate by giving a game and a controller or 1 year of Xbox Live Gold with the Kinect sku.