Xbox 360 Price Drop Rumors Gain Credence

With three more advance retailer fliers listing lower prices for the Xbox 360 Pro and Xbox 360 Elite hardware, it seems that an imminent price drop is all but confirmed.

Leaked images of this Sunday's Target, Walmart and Best Buy advertisements respectively acquired by Engadget, Joystiq and Kotaku show the now-$399 Xbox Elite model and its included 120GB hard disc drive going for $299, joining the Meijer catalog image that recently surfaced and shared the same new price for the Elite.

Meanwhile, the currently-$299 Pro and its 60GB HDD are shown at $249.99. The Elite is rumored to be entirely replacing the Pro model, as the latest packing for Elite and $199 HDD-less Arcade units only list the Arcade and Elite favors of Microsoft's console.

Competitor Sony recently slashed prices on the rival PlayStation 3, lowering its cost by $100--from $399 to $299 on the 80GB model, $499 to $399 on the 160GB version--and introducing a slimmer, 120GB model of the console that will sell for $299.