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Like ladies gossiping over the backyard fence, the latest buzz amongst the Internet forums is that Microsoft will be slashing Xbox 360’s price by September. Going by what ars technica’s Microsoft mole says, Arcade sans HDD will go down from $279 to $199; the Pro (60GB) will drop from $349 to $299; and the Elite (120GB HDD) will scale down to $399 from $449. You can also expect hardware and game bundles for all hardware versions to surface around the fourth quarter, just in time for the holidays.

Source: xbox360fanboy