XBox 360 and Playstation 3 Price Cuts

In case you missed it, Sony and Microsoft have taken the console wars to the next stage with a round of price cuts on each companies' high end gaming platforms.

The Xbox 360 Pro 60GB Console drops $50 to $$249.99. The Xbox 360 Elite with 120 Gb Hardrive drops to a MSRP of $449.99, although you get it for slightly cheaper on Amazon.

This news comes out about a week after Sony announced that the Playstation 3 would decrease in price as well. The PlayStation 3 80 GB is now $299.99, bringing it to within $50 of the market leading Nintendo Wii. Sony has also unveiled a new, slimmer model for the Playstation 3, which comes with 40 GB of extra space. The PlayStation 3 120 GB retails for $299.99, which is kind of odd to me.

There is no word that Nintendo will drop the price of the Wii, which currently sells at retail for $249.99.

The Wii figures to see sales slowing down at this point as they have lead the console battle for so long. With the price cuts narrowing the gap between Nintendo, Sony, and Microsoft the sales numbers figure to move more towards Nintendo's console competition this holiday season.

I, however will not be picking up another gaming system any time soon. I'll stick with my Wii.