Well, they did it... a 20% cut in the price of the Xbox, to 199euros (219 USD). It is the same price as the Gamecube now.
This is bad news for Nintendo who was just starting to gain some ground. But, let's hope that the price cuts come over here too. I'm still waiting on a Gamecube. I figure if I wait long enough, I'll just have to buy a GC game, and they'll throw in the system.