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barneystinson69 said:

That means $600 here, and that is one sale less for MS. They really were hinting at $399, but if this is true, well it is a massive mistake on the part of the Xbox team...

Sorry to bring you the bad news, but with the current exchange rate $499.99=C$673.26 so you're probably looking at C$649.99 or C$699.99 in Canada.