According to ars technica's Microsoft insider, all Xbox 360 hardware across all console SKUs will be seeing some major price cuts even including the recently introduced 60GB model. Their insider informs us that sometime this September, the Xbox 360 Arcade (no HDD) will drop from $279 all the way down to $199, the new Xbox 360 Pro (60GB HDD) will go from $349 down to $299 and the Xbox 360 Elite (120GB HDD) will fall from $449 down to a more reasonable $399. If true, high fives all around. If false, we become depressed.
[Thanks, to everyone who sent this in]