Looks like Microsoft are serious. An advert found on the Target retail site suggests that the Xbox 360 is going to get a $100 price drop (with the Kinect hardware).
Clicking on the advert takes you to the current price, but many are speculating that this is something that’s going to be announced at E3 .
$299 for that particular model of 360 along with the motion control tech is quite the bargain.
Of course, it could just be a typo…