Ah c'mon, we all knew this day would come, but the sooner the better, right? While an Xbox 360 price cut has likely been in the works for some time now, it's no surprise that it hasn't happened quite yet. With Sony's latest gig coming in well over what Microsoft is asking, there's been no reason (yet) for Microsoft to take an even bigger loss (at launch, at least) on each console sale. Nevertheless, it seems the time is drawing nigh, as Microsoft's own Robbie Bach has stated that bringing down the costs associated with the console is "the first order of business." He also boasts about the 360's "larger installed base," and claims that its "fundamentally easier to manage on costs," insinuating that those price reductions would soon be passed onto the consumer as the Xbox 360 hits its second holiday season in full stride. This latest round of price yapping comes on the heels of European stores slashing bundle prices (history repeats itself?), offering the Premium console and Gears of War for an "unprecedented" £269.99 ($520). Although we aren't certain as to when Gates and company will indeed chop prices on its next-generation machine, we'd suggest holding off just a bit longer if you're already leaning this direction.