Looks like the rumors regarding an Xbox 360 price cut were spot on. A Radio Shack ad circular for the week of September 7 lists the Xbox 360 Elite for $399 and 360 Arcade model for just $199. While the price of the standard 60GB Pro model went unmentioned, expect it to cost $299, considering that the rest of the rumor panned out.

It sure will be interesting to see how the sales of the 360 are affected by this price cut. Might put pressure on Sony at the very least. Nintendo on the other hand, well, unless North American Wii sales drop under 500K for a month, it would be hard to see them budging.

Radio Shack Ad Shows Xbox 360 Consoles Price Drop [CAG]

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