Microsoft has finally officially announced the long rumored price cuts for the XBox 360 Elite, which will go down from $399 to $299. This was one of the worst kept secrets in the tech world, but now it is finally official. I have been waiting for this price drop, and for the newer, cooler running XBOX 360 systems to be in the retail channel before I got one, so the wait is over.

Next up is the new Zune HD, which will go on sale on September 15. The 32GB model is listed for $289 on Amazon, which undercuts the iPod Touch quite nicely. It will have HD Radio, and is powered by the NVIDIA Tegra processor, which supports 720P video.