Just announced this morning. As Microsoft gears up for the holiday season they've just announced that the price on all of the 360 sku's are being reduced by $50! It will be interesting to see how Sony reacts to this latest news.

Elite is now $449.99
Premium is now $349.99
Core is now $279.99
Halo Special Edition will be $399 (coming in September and is basically a premium unit with a fresh coat of paint and some other Halo goodies thrown in)