Well, given the price cut was pretty decent I think the level of increase must be disappointing for MS. There has been a rise (so it didn't fail completely) but with the new prices I believe MS needed to see a bigger response than this to judge the move a success.
If however sales remain at higher level overall (say around 55 K a week) then the price cut will have at least increased time until PS3 passes 360 in Others - we need another week or two of sales to see if this will be the case though.
Taking the view MS is fighting to remain ahead of PS3 in Others then the cut overall didn't deliver IMHO as it looks very likey PS3 will continue to sell more and is still certain to have more units sold in Others than 360 in less time on market.
I think the response also shows than simply having a 360 model cheaper than Wii isn't the answer to gaining momentum with the so called 'casual' gamers. People who want a Wii want a Wii and that's that - and the rest are still buying PS2's so 360 is doubly out of luck for that demographic it would appear.
As for the so called 'hardcore' market - well, if you're cheaper but the competition has the brand and the popular titles for the region (like GT) then you're still not going to compete well.
I noticed on another site that 360 version of new Vegas game way outsold PS3 - and I think that's the story right there. A very specific (and relatively narrow) demographic is buying 360 and its going to take marketing and changing brand perception to change that - not a straight price cut.
Try to be reasonable... its easier than you think...
