$299 Price Drop Xbox 360 Is Refurbish? (Bwah?) [Updated]

Previously, we posted a Kmart ad indicating a price-drop in the Xbox 360 line-up. The ad, purported to hit July 6, shows that the model that comes equipped with a 20GB hard drive, formerly known as the 'Pro' version, will be priced at $299 US. That's a $50 price drop from its current MSRP. A Gamestop employee has…