Major Xbox 360 price cuts rumored for September

Gather round children and scoot in close, because it's time for another edition of Xbox 360 price cut rumor talk where we inform you about the latest, craziest and somewhat possible 360 price cuts that may or may not happen. And today, friends, we aren't about to let you down.

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]

This article was originally published on Joystiq.