I don't see how it can be the bloodiest price war when the only countries where MS has a hope of price dropping its way to relevance, and Sony feeling any sort of need to respond, are USA and UK (sure Canada too, but it doesn't matter in the grand scheme of things).
MS has put in place an official price cut. So far Sony hasn't budged on official prices. Where is this price war? Bundles? They happen all the time, it's part of creating value without having to adjust price and they always turn up as the first move in response to the cost of production going down.
If retailers are getting into a price war then it's as much about internal competition (attracting the Xb one buyers away from other retailers) as it is about external competition (PS4 vs Xb one).
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