Now with the HD DVD/Blu-ray wars over, it would appear that everyone is heading out to buy a PS3, so we figured it wouldn't be too long before we saw a price cut in the offing for the rival Xbox 360.

The cheap and cheerful, hard drive-less Arcade version of the console could end up being cheaper than the super-soaraway Wii, if the rumours are true.

Rumours also mention the Elite console could drop from £299.99 to around £240 with the Premium seeing a cut from 249.99 to £200.

Games mag MCV said that one trade source told it that: "A few publishers have confirmed the news to us, and we’re aware of some price movement is coming. The major chain retailers have all been told."

As usual Microsoft is keeping tight-lipped about the whole thing and would not comment on "rumour and speculation".

Things could certainly look interesting in the casual end of gaming.