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360 like others have said are hard to predict but one is neccessary. I'd say early-mid summer maybe there could be a decent price cut on all 360 SKUs.

PS3 I don't see one happening till September at least unless sales dive considerably. With the MGS4 bundle announced for June I figure they wont be dropping prices in July/August due to increased sales from the bundle and release of MGS4. I really don't see them not having a price cut though. Even though they are making ground on 360's lead I figure they want to have a major lead over the holidays and they'll probably do a decent price cut before then.