Xbox 360 Price Drop Makes All Your Wildest Dreams Come True

It seems that while I was away, I missed one of the most megaton announcements in gaming in the last several months. That's right, Microsoft finally confirmed what rumor-mongers, legitimate blogs, and illiterate GameFAQs posters have been hoping for for a long time: the Xbox 360 received its first ever (I'm serious) price drop on Wednesday, August 8.

The official rundown goes like this: Core System has dropped to $279, the Standard moves to $349, Elite drops to $449, and the special edition Halo 3 box (when it releases) will be $399. That, my friend, is the horror we call "4 SKUs."

Microsoft claimed to want to capitalize on the release of Madden '08 and bring in PS2 owners who would now switch to a more affordable 360. Read the full press release here, embedded in Kotaku's article.

I'd complain about how $50 is a really wimpy price cut, and how we really wanted a $100 drop so that the 360 could compete with Wii and blow away the PS3 (no hard feelings, Sony), but I'm so happy we got a price cut at all that I just won't mention it.
[via Kotaku]