Xbox Price Drop (lower than Wii)

So looks like the rumored price change has come into effect, interesting option is the Arcade Version now being $50 cheaper than the Wii
New Prices (article here)
New Xbox 360 prices
Beginning Friday, Microsoft is lowering the U.S. sales prices of its video-game consoles:
Xbox 360 Arcade: $199.99, was $279.99. The entry-level model has no hard drive but can now claim the title of least-expensive game console, undercutting the Nintendo Wii by $50.
Xbox 360: $299.99, was $349.99. The mainline system has a 60-gigabyte hard drive, necessary for downloading video content.
Xbox 360 Elite: $399.99, was $449.99. The high-end console has a 120-gig hard drive
Compare the 3 Editions here