From the article, "The $299 Core pack will drop to $249; the $399 Premium pack will drop to $349; and the recently released $479 Elite model will drop to $399.
Such a price cut would be a likely move for Microsoft following the PS3 pricing announcement today. Sony dropped the price of the 60GB PS3 from $599 to $499 and announced an 80GB PS3 with MotorStorm bundled for $599. The price drop appears to be in response to lower-than-expected sales of the console."
As is expected, Microsoft is keeping quiet about the potential price cut, saying nothing has been announced. Could this be related to the die-shrink that will bring the main chip to 65 nm?