We know they are coming sometime later this year. We'd be fools not to expect it. There have been rumors, there have been cost saving measures, there are leaks, and it's been years since the last price cut.

The poll is just for a general timeframe when you guys think the price cuts are likely to occur.  In the thread, post the exact day you think the price cuts will occur for each, as well as what you think the price points will be, and I will update the OP with all of the predictions. Then when it happens, we will know who was right/closest!

*Winner gets my undying respect as well as one free favor redeemable at a time of my choosing and I have the right to decline any suggestion offered for that favor...

Pricecut will happen in september for ps3 and late november for 360

PS3 will cost $249 for standard model, $349 for move+320gig model
360 will still cost $199/$299 but all models will come with kinect. So technically $100 pricecuts for the models that will still be for sale.

Why do you feel MS will wait till November? I am not sure what strategy they will use this time around, but cutting in September seems like a better move than waiting so close to the holiday season. Compacting the sales surge with the holiday rush could lead to shortages which is something MS would not want in the holidays.

Dates difficult to predict. I could see them both doing the price drop either in September or November. I could easily see them dropping the price around select releases. For instance I could see the PS3 coming down along side the Uncharted 3 release on Nov. 1st. Also I could see the X360 coming down in price in celebration of their Halo: combat evolved anniversary edition on November 15th. However, This does not give a lot of time for consumers to purchase at this low price before the holidays. Therefore I am going to predict that the cuts will occur for both consoles sometime in September.

Official Price cut dates and price points.

PS3 Price Cut Date: September 8th
PS3 Price points:
$249 160GB console
$299 320GB console
$299 160GB console /w Move and game
$349 320GB console /w Move and game

X360 Price Cut Date: September 22nd
X360 Price Points:
$149 4GB console
$249 320GB console (I think they will upgrade from 250GB to 320GB HDD. But I could be wrong.)
$199 4GB console w/ Kinect and game
$299 320GB console w/ Kinect and game

September seems about right for both of them. I guess either will get a $50 pricecut, but PS3 could even have a $70 pricecut and the X360 see Kinect added to all models and keep it's current pricing.

@Allfreedom99

That is actually very much in line with my thoughts. I have a feeling MS may let Sony cut first, just to see what the reaction is and how much they cut, then react to that. I agree with your pricing very much, though I would still not be surprised to see a $129 4/8gb 360 and a $199 w 250/320gb 360.

Yeah, I wouldnt put it past them on those price figures. Wasn't it MS that stated at E3, "we will be the best selling console this year."? For them to make such a bold statement they are either over confident, or they really do have something major up their sleeves to assure the best sales. It will be interesting to see what happens.

Good point, I had forgotten about that bold claim. "From #1 in the US, to #1 worldwide for the year."

Actually, it seems like the PS3's pricecut will come sooner than we thought. When gamescom is going to be?

Looks like August 17-21.