Didn't Microsoft's Xbox 360 Elite just drop to $299, like, three weeks ago? Yes, yes it did. Evidently that cut just wasn't deep enough for Microsoft (or else it had a change of heart following the release of Sony's $299 PS3 Slim), as the Redmond mega-corp has today lit up a new mail-in rebate program to bring the cost down to $249. Consoles purchased between today (sorry, Monday shoppers!) and October 5th are eligible, and it's anyone's guess as to what'll happen to the 360 lineup come October 6th. So, is Santa coming early for anyone this year, or what?

[Via Major Nelson, thanks Logan]

Read - Rebate page
Read - Microsoft release

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Microsoft kicks out $50 rebate for $299 Xbox 360 Elite