We all knew it was happening in Japan and thus just a matter of time before it happened in the U.S., but now it is official. The Xbox 360 Arcade price will drop down to $199, the normal 360 will drop to $299 and the Elite will only cost $399. Nice little discounts for the holiday season, and with the price of a 360 now lower than a Wii, that price point isn’t going to be so much of a contention as before. Think it will effect Wii sales? Then you’re crazy because nothing can stop the power of waggle.