Alright kids, it's probably safe to put the term "rumor" to bed now. Tipster ToeFurB sends us (and Joystiq) images of an upcoming Circuit City ad which reconfirms the 360 price drops we've seen in the Wal-Mart and Toys R' Us ads. The 360 Premium will see a $50 price break, the Elite will be reduced by $30, and the Core slims down by $20. For the Premium, Elite, and Core, this results in prices of $349, $449, and $279 respectively. Not only that, but those who purchase the newly discounted Premium console from Circuit City will also receive a free copy of Rockstar's Table Tennis. The ad is dated for August 12, so mark your calendars.