Still too early to tell if the price cut will help the 360 much. As it stands I think Sony is in a very strong position because they are no longer losing money on the ps3 and as production costs continue to fall they will be able to counter with their own price drop if necessary.

I agree with Leo-j... this was good for MS as it helped to shrink the ever-widening weekly gaps between PS3 and 360 in Others.  It would have been GREAT for MS had the 360 outsold the PS3, but let's face it... the PS3 is on a roll and I don't think it's going to slow down anytime soon.

Well, given the price cut was pretty decent I think the level of increase must be disappointing for MS. There has been a rise (so it didn't fail completely) but with the new prices I believe MS needed to see a bigger response than this to judge the move a success.

If however sales remain at higher level overall (say around 55 K a week) then the price cut will have at least increased time until PS3 passes 360 in Others - we need another week or two of sales to see if this will be the case though.

Taking the view MS is fighting to remain ahead of PS3 in Others then the cut overall didn't deliver IMHO as it looks very likey PS3 will continue to sell more and is still certain to have more units sold in Others than 360 in less time on market.

I think the response also shows than simply having a 360 model cheaper than Wii isn't the answer to gaining momentum with the so called 'casual' gamers. People who want a Wii want a Wii and that's that - and the rest are still buying PS2's so 360 is doubly out of luck for that demographic it would appear.

As for the so called 'hardcore' market - well, if you're cheaper but the competition has the brand and the popular titles for the region (like GT) then you're still not going to compete well.

I noticed on another site that 360 version of new Vegas game way outsold PS3 - and I think that's the story right there. A very specific (and relatively narrow) demographic is buying 360 and its going to take marketing and changing brand perception to change that - not a straight price cut.

to be honest, i thought the 360 price drop would rape ps3 sales by like 15k.

so in my view it is a failure.

@ Leo-J If the ps3 was released the same day the 360 was,the PS3 would have more sales of consoles and the console of choice would be PS3.You know that and everybody does too.People want a blu-ray player and getting a gaming console included is a plus.HD movies will be the wave of the future,well it is. Sales of both consoles show that if both were released at the same time ps3 sales would be more than the 360.

the price cut really did not do anything

Just goes to show that the Wii is a lot more then just price. It actually has a higher perceived value despite having a lower "asset" value.

Which is the only value that really matters.

Still, any move that slows down PS3's encroachment is positive for microsoft as time is actually on their time since they currently hold the lead.  If they can prevent Sony from reaching their World Wide totals by stalling in europe  until they release a new console they can claim a victory. 

Well a 2nd place... but beating Sony would make it a victory. 

I remind everybody that the actual difference in sales in others is 1.19 million ...from wich 140k are in australia and 545 000 in the fabulous and uncheckable "others others" category ....so the Ps3 in actual Europe is really close to the 360 LTD and after only one year in the market against the 360 2.5 years .

I am not a big 360 guy, but I think that the price drop did pretty good. Not amazing, but good. Also keeping in mind that they don't return to the old base of 40k and maybe only drop down to 50k.

It was 40% only for the first week. The weekly numbers are only going to drop from here, as all price cuts have an immediate spike, then a drop off.

The question is how much will it drop off. A 40% boost wasn't enough to put it past the ps3, and it could very well drop back to pre-price cut levels over the next few weeks given how small the initial boost was.

If THAT happens, then it is most certainly a failure.

You have to remember, when the ps3 had it's initial price cut in July (60gb to $499 USD) sales spiked something like 178%.  After that sales plummeted until the release of the 40gb.