With the PS3’s recent slimming down both in terms of price and appearance, you couldn’t just expect Microsoft to sit and take it. Despite being priced far above the 360, the PS3 has sold considerably well and probably far stronger than people might have you believe. So with a new price point, below that of Microsoft’s premium package, who knows how the “console war” could have gone. Though if a recent leaked Walmart catalogue is to be believed, the Xbox 360 Elite is about to fall from $399 to $299 putting it right back alongside the PS3 in terms of US pricing.

The catalogue was due to hit on August 30th and further fuels rumours that the current Pro model of the system will be disappearing soon as it is this model which currently occupies the $299 slot. Should this be true, I wouldn’t expect it to arrive in the UK as Microsoft appear to be brining their aggressive UK pricing to a close by increasing the price of the Arcade model. Perhaps we’ll see some sort of drop, but the current Elite model is already twenty notes cheaper than the PS3 and as the American drop seems to be there in an effort to match the PS3, such a move would be pointless over here.

Source: Joystiq