The Hollywood Reporter is, well, reporting, that Microsoft is planning on dropping the Xbox 360's price by $50 on August 8th.
I know, in the past I've strongly urged against trusting rumors, but this one sounds legit.
And when (if) this happens, how bad does this make Sony look? I mean, first Sony claims they dropped their price, then they revealed that the price drop is just so they can get rid of the out-dated soon to be extinct 60-gig models, and Now Sony's competition is going to go EVEN LOWER!
This means that while you will soon HAVE to pay $599 for an 80 gig PS3 and "Motorstorm" (who wants that?!?), you will be able to buy a good 20-gig Xbox for $350 or a 120-gig model for $430!
Who is running Sony nowadays?!? Bill Gates is owning you, boys!