Microsoft didn't enjoy its week of being the most expensive hardware developer. They didn't enjoy it one bit. The rumored Xbox 360 price drop has officially gone into effect, bringing the Elite down to a much more suitable $299 price point, and discontinuing the Pro (but dropping the price to $250 while supplies last). The Arcade is staying at $199, and expect it to be phased out completely before that price moves at all. Or they'll change the SKU name to the Xbox 360 RROD Replacement and drop it to $150.

This was certainly expected, since every retailer who has ever sold a Microsoft product has released information on the price drop. It's like Microsoft planned to drop it last week, sent out their information, and freaked out when they heard about Sony's price cut. Their "please withhold this information" emails they likely sent out obviously didn't work too well, and this announcement, which should be huge news, is just a bit funny at this point.

So, it might be a bit silly to ask, but is anyone going to get a 360 now? I imagine that if the $299 price point was good enough, most would have grabbed a Pro system a long time ago. It's still a good move, if not just for PR, and I'm happy this console generation has finally made its way out of the crazy prices that it began in.

[Source]