There is no 360 pricecut. The Elite becomes the new Black Pro with an extra 60Gb, simple as that. There is no price difference to anyone looking to get a 360 with a harddrive. Net effect will be absolutely minimal.

I criticized Sony for their faux price drop a year or two ago, and I'm criticizing MS for theirs too. Their reaction to the PS3 drop so far has been very lazy. It seems like they're hoping nobody will notice the features on each console and just buy the 360.

On the other side of the coin, I was in Gamestop today, and there was a line of people waiting to try out Madden 10 on the 360, there were a couple of people looking at the Wii, and literally NOBODY was waiting to play the PS3. It was just sitting in a corner running a demo. So maybe MS' theory will be right.

But if people do their research and put two and two together, the PS3 is going to win this holiday season. I just don't have a whole lot of faith in the human race to think that people will actually research what they buy. So the 360 probably still has a chance.