XBox 360 Price Cuts Across the Board

Microsoft yesterday announced that there are going to be price cuts across the board for all current 360 models. Its a good thing I had to wait to get one, as I would have been rather upset if I purchased a 20GB model a couple months ago for $350.

In probably the best move, their Arcade 360 (which has no hard drive) is being dropped $80, down to a $199 price point. That will make the 360 the cheapest current generation console on the market. Take that, Nintendo! It will likely spur sales in the coming holiday season. Also of note is that the 160GB 360 Elite is now going to be priced $100 less than the 160GB PS3 that was just announced, putting Sony at a disadvantage. Could PS3 price cuts be far behind?