They lower the price near the GTA4 Launch.
Arcade-$199
Normal-$279
Elite-$339

 Thats a BIG drop for the Elite's price.  I pray it will happen, but im not really expecting it.

 I also think these will be the price points after the next price drop.

I say they go after the Wii and do $100 price drop!

It better not drop since I just bought one! Id hate to see a price drop soon.

My guess is that the week including April 1st, or within a couple weeks before it, will be when they cut price. Conservatively they'd at least go to $250/300/400 but I think it's more likely they go for $250/350 and cut out the core model.

Chances are, GTA4 will require a HDD and in the future other games will as well. For that to work, MS really needs to stop selling consoles without them. Beyond that, it seems to be general perception that the core doesn't exist anyway, and MS is losing to Sony's $400 PS3 WW. Taking the more drastic measure will give them a good running start into next year as well as put a hurt on Sony's bottom line.

i say 100$ on the GTA4 launch

^^I feel your pain, dude. I bought a 60gig PS3 at launch price, only to have $100 knocked off two weeks later

you could have returned it ith the reciept for a cash refund and then purchase a brand new one for 100 dollars less if it was only 2 weeks.