Euro Xbox 360 price cut rumoured for March 14
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Says so here. Apparently the price is going to be cut by €50 across all SKUs. That report claims to have "corroborated this story with numerous UK retailers this morning", and that Microsoft has issued a "no comment".
The drop would mean the Core pack would be cheaper than a Wii in Europe at approximately £150.
We're trying to get hold of Microsoft, but don't hold your breath.