Ironically enough, FutureShop, where this morning's rumor first originated, has not lowered their web site prices as of press time. Perhaps they're waiting until Friday to unleash that Turok Elite bundle on an unsuspecting public?
Does this surprise move mean an American price drop is in the cards? Probably not -- much like the previous Microsoft Canada price drop, the adjustment seems designed to bring prices up North in line with the weakening American dollar.
Update: Apologies for the inadvertent act of bad foreign relations. No offense was meant, Canada. Are we still cool?