Maintain sale price, minus lower production costs of console = increased profit per console.

I think a 360 pricecut in NA is imminent, I'd wager it could happen sometime near August or maybe Septmeber.
The PS3 will probably see another pricecut ww this year, right around the same time I suppose.
Of course, they could surprise us and don't do a thing or do a whole lot more!
I'll hold off until some kind of announcement is made at any rate.

360 like others have said are hard to predict but one is neccessary. I'd say early-mid summer maybe there could be a decent price cut on all 360 SKUs.

PS3 I don't see one happening till September at least unless sales dive considerably. With the MGS4 bundle announced for June I figure they wont be dropping prices in July/August due to increased sales from the bundle and release of MGS4. I really don't see them not having a price cut though. Even though they are making ground on 360's lead I figure they want to have a major lead over the holidays and they'll probably do a decent price cut before then.

PS3 probably won't see a price cut this year, since I think they want to make money on it at some point, and it is still doing well in Europe. Probably not until next year. Maybe they will throw together a bundle for the same price at Christmas.

The 360 is in a much better position to lower the price. I would think that they would lower the Arcade to $250, the Pro to $300, and the Elite to $400, probably for the holidays, or maybe as early as September.

I expect 360 under 200 bucks by the end of the year(arcade).

There has never been a console(major consoles speaking...neo geo doesn't count :)) which has been on the market for 3 years and not hit the magical 199 price point.

Longest one before was ps2 which 2.5 years to do it...

Nintendo wrote down nearly $900 million dollars on US sales because of the weak US dollar, with no price cuts. Just something to consider.

 A price increase is needed for the Nintendo Wii in the USA?

thfor 360 i say around the holidays
the ps3 wont see a price cut until next year at the earliest

price cuts:
x360: before fall 2008
ps3: before christmas or before launch of killzone 2
wii: maybe after e3 2009 but i think that wii will see first price cut at the end of 2009 or at the beginning of 2010.

Nintendo Wii I believe does not ever have to cut its price.
Iwata , Nintendo boss said: "that it could be first time ever that a Nintendo console may never have to cut its price".
By not cutting price it would not matter if the competition gains a little in market share. the profit to Nintendo keeps rolling in through all the Wii consoles being sold.