Yeah, we had plenty of advance notice, but it looks like those European Xbox 360 price cuts are now the real deal. The 360 Arcade is now just €199.99 / £159.99, while the Premium drops €80 / £50 to €269.99 / £199.99 and the Elite comes down €80 / £40 to €369.99 / £259.99. That means the Arcade is now half the price of the 40GB PS3 in the EU -- not necessarily a great 1:1 comparison, but something tells us it's going to look awfully convincing on store shelves.