I've been eagerly the "crazy price slash" phase of the current console war and it looks like it's here. Only about a month after Microsoft lowered the price of the now-discontinued 20 GB Xbox 360 "Pro" by fifty dollars, they're making a new round of price cuts for all models.

As with the price cut in July, this news came to us through a retailer advertisement. A new Radioshack flyer, acquired by the good folks at Joystiq, lists the 120 GB Elite model at $399, the new 60 GB "Pro" at $299 (the same price as the old 20 GB "Pro"), and the hard drive-less "Arcade" at $199.

That's right, an Xbox 360 Arcade will now be cheaper than a Wii. I'm not sure Nintendo will budge anytime soon, though, given how much damn money they make and how hard they are to find to begin with. I'm interested to see how Sony responds, though. I'm hoping some Sony executive reads this and in a state of panic, pulls a comically oversized lever by his desk that automatically lowers the price of every Playstation 3 model by fifty bucks. A man can dream.