Been waiting for the price on the Xbox 360 to drop? Well, it's almost time to get one, as Kotaku has reported that fifty-dollar price cuts for all three SKUs (Arcade, Pro, Elite) are in the works for September. That'll bring the Arcade down to $199, the Pro down to $299, and the Elite down to $399.

This now makes the Arcade cheaper than the Wii, which will make September's NPD numbers that much more interesting when they hit in October. It's hard to say if this development can slow down the Wii juggernaut, but it could help the 360 break away from the PS3 this holiday season. It'll be fun to watch.

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