After months and months of rumors, speculation, leaked adscans and insider whispers, Microsoft just announced that the Xbox 360 price cut rumors are, in fact, true. Beginning this Friday, September 5th the retail pricing for Xbox 360 consoles in the US will drop to all time lows. The new console pricing puts the Xbox 360 Arcade at $199 (cheaper than the Wii!), the 60GB Xbox 360 Pro at $299 and the Xbox 360 Elite at $399. Remember though, this is only for the US as any other territories (Europe, Australia, etc.) have yet to announce any console price cuts. We can now also pretty much debunk that motion controlled Arcade bundle rumor. Happy shopping!