According to internet reports, a major Canadian retailer has confirmed that the Xbox 360 is set to receice an Official $100 price drop across all Skus as of August 1st. That will mean that the Xbox 360 core will retail for $199 (with a pack in memory unit) and be even cheaper than the Wii at $249 USD.
Source:
MaxConsole
Yeah... I don't know about that. If Sony maintains a $599 price point I don't really see a 360 price cut.