From the Vault — originally published July 14, 2008. Some links, videos or prices may be out of date.

The rumored Xbox 360 price cut has been confirmed by Microsoft. The Xbox 360 20GB will drop in price by about $50. A new Xbox 360 60GB model will soon be available at the $349 price point previously held by the 20GB model. Expect plenty more announcements from Microsoft today when their E3 press conference takes place in a few hours.
This is the new Xbox 360 console lineup with prices:
Xbox 360 Arcade: $279
Xbox 360 20GB: $299
Xbox 360 60GB: $349
Xbox 360 Elite 120GB: $449