X360 Price cut in Europe

This article was taken from Gamespot.com

"Let the price wars commence--Microsoft has thrown down the gauntlet and cut the price of all Xbox 360 SKUs in Europe.

The Arcade pack will have a recommended retail price of £159.99 (down from £199.99), the Premium pack will be £199.99 (down from £259.99), and the Elite £259.99 (down from £299.99).

The price drops are effective from this Friday, March 14, and notably the new recommended retail price for the Arcade brings it in cheaper than the Wii--which at £179.99 has been the most budget-conscious next-gen console option since its launch in December 2006.

Microsoft's Interactive Entertainment Business Europe's VP, Chris Lewis, commented, "History shows that £159.99 is the price point where a console’s audience begins to expand, and with these new ERPs in place we’re ready to bring more consumers into the Xbox 360 world." "

I think that this is really good news for those in Europe thinking about purchasing a 360. I'm not saying this is good because of the Arcade pack, but because of the premium pack. With the HDD version now only £199.99 (Down £60!) people can get a fully functioning 360 for only £20 more than a Wii. You can't beat that deal and it makes me wonder if the states will see a price drop here as well. Maybe a drop to $300 for the Premium to coincide with the launch of GTAIV!? Who knows, but I think that would be a really good idea.

If the States do get a cut here our my price predictions...

X360 Arcade: $229.99
X360 Premium: $299.99
X360 Elite: $379.99

I know I have very optimistic thought about the Elite's price, but I think that would be the best price for it...