FINALLY! After months of "speculation" regarding the worst-kept secret in the gaming industry, said ssecret has finally become official as
Major Nelson himself announced on his blog that the Xbox 360's price will, indeed, drop for all three SKUs. The price drop will take effect on August 8th, and will take effect in the US ONLY.
Xbox 360 Elite - $499.99
Xbox 360 Premium - $349.99
Xbox 360 Core - $279.99
For the record, the Halo 3 Special Edition of the Xbox 360 Premium has been announced at $399.99.
In regards to the overseas market and a possible price cut, Nelson quoted Microsofts marketing team: "Today we are announcing a price reduction in the U.S. We will announce other regional price decreases at the appropriate time."
Microsoft Press Release