A recently leaked advertisement from a Meijer catalog indicates a “new lower price” of $299.99 for the 120GB Xbox 360 Elite system. The catalog is rumored to be available by August 30th, which means that we may see a price drop by the end of the month.
There is also speculation that, as a result of the Elite system’s price cut, Microsoft will discontinue production of their Xbox 360 Pro system and solely produce the Arcade and Elite versions of their gaming console.
Article from Gamersyndrome.com
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PSN ID: vdubs310 
What?! The Xbox 360 Elite is only £179 in the United Kingdom.
It’s currently $399.99 in the United States.
yes £179 basically is the same as $299 USD. For the xbox elite edition is there hardware or any sort of upgrades done? id like to see what those are since we had a conversation on this topic about how the “platform” was supposed to be viable for 10 years or something crazy like that http://gamersyndrome.com/xbox-360/new-xbox-model-name-slipped/
There probably doing this to compete against Sony’s price drop of the PS3 once again. The war rages on…
Whether Microsoft will implement hardware upgrades to the Elite system following the price drop is unknown. Microsoft has not yet commented on the advertisement that leaked the new price. Although, I think the harddrive space is sufficient at 120GB. The only upgrade I would like to see is a built-in wireless capability, but you can make your own wireless adapter for much cheaper than the Microsoft model (about $30-$40). http://www.ehow.com/how_5273073_make-xbox-wireless-networking-adapter.html
I wonder if this is really true. It would be great to save a hundred bucks on the Elite. I wonder why though would they want to get rid of their Pro version? Did I miss something?
They are currently the only company with three versions of the same console still being sold and marketed, that could be a reason. Maybe they intend on announcing something new. We’ll have to wait and see.
I suspect something new, we discussed this in another post but generally when they price drop that drastically its to reduce stock for a new product on the way.