Sony recently announced the PS3 slim along with a price cut for the classic version of the PlayStation 3. This leaves the Xbox 360 ‘Elite’ as the most expensive gaming console in the market along with with some increased competition from the Sony PS3 for Microsoft to handle. However it is being rumored that Microsoft already had plans to reduce the pricing for Xbox 360, but the announcement is being delayed to allow the PS3 Slim hype to settle down.
A leaked Walmart ad has confirmed a $299 Xbox Elite in pipeline (the current price is $399). This would bring the Xbox pricing at par with the upcoming PS3. While the companies play price war, you know who benefits 
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