You knew it was coming, but Microsoft has made it official: the Xbox 360 is officially going to drop to as low as $199 starting Friday, September 5 in the U.S. The three currently offered SKUs will get a price drop in North America, following multiple retail leaks and a similar pricing adjustment for the Japanese market. The new MSRP for the current line up is as follows. * Xbox 360 Arcade - $199 * Xbox 360 - $299 * Xbox 360 Elite - $399 Yes, that makes the Xbox 360 officially the least expensive current generation console following an $80 price cut on the Arcade model. Here's to hoping that helps Microsoft's recent hardware sales woes .