It seems that Miscrosoft, Sony, and Nintendo have a planned price drop coming for their consoles.
XBOX is planned to drop down to $149
Playstation is also planned to drop down to $149
Gamecube planned to go down to $99
There is also word that the Refurbished systems will be going down to $99 by X-mas time.
This was all decided before E3 began, all part of promoting the system more and getting sales up before X-mas.
As of right now PS2 is down to $179(confirmed yesterday by EBGames and Gamstop) and Xbox is down to $179(confirmed today by Best Buy), Gamecube is still @ $149.
News source: RenegadeTechs