NJ5 on 08 July 2008
It seems safe to say that the price cut will have a permanent effect. As far as I remember, the only price cuts which didn't were PS3/360's in Japan.
Ignoring the initial spike, it will probably boost sales by 10-20%. Perhaps a little more due to the $300 psychological barrier being broken.
My Mario Kart Wii friend code: 2707-1866-0957
