It wasn't any secret that the Xbox 360 was getting a price cut in the next week or so, and now it's official -- Major Nelson just confirmed that as of September 5th, the Arcade will be $199, the Pro will be $299, and the Elite will be $399. No motion controller, goofy Live starter pack, or tweaked controller to be found, but we're not arguing with price cuts.

Update: Here's the Microsoft press release.

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Xbox 360 price cut coming on September 5 -- Arcade now $199