Euro Xbox 360 price cuts have started

Microsoft have yet to make any announcements regarding the supposed cut in the price of the Xbox 360 but the picture above shows that it is already happening.
According to Dutch retailer Bart Smit, the rumored price cut of the Euro Xbox 360 is happening on Monday.
It’s said that the Xbox 360 Elite has dropped from 549.95€ to 399.95€, the Pro console was lowered from 399.95€ to 299.95€ and the Arcade bundle is down from 279.95€ to 199.95€ and would become the cheapest console of this generation in Europe.
Microsoft could win some time with the price-cut to prepare for a new generation of Xbox 360 consoles with integrated Blu-ray drives.
Apparently Microsoft are said to be in talks with Sony already about licensing Blu-ray for the Xbox 360.
What do you make of this price drop?
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