I reported a few days back on how analysts said an Xbox 360 slim was “inevitable”, and personally didn’t see the point of Microsoft doing that.

So Microsoft is rolling out an Xbox 360 price drop instead! Starting this Sunday, the Xbox 360 Elite will be going for $299, a price drop of $100, putting the system on par with the new PS3 Slim.

However, there will be some drawbacks to the price cut. The 360 Elite won’t be coming with an HDMI cable, nor will it include component cables, but composite cables.

Isn’t it weird how both HD era consoles don’t come with HD cables?

Though nothing has been confirmed by Microsoft directly just yet, a number of new Xbox 360 bundles have been showing up on the retail websites across the internet, giving us a hint of Microsoft’s Christmas strategy this year.

Clearly Microsoft is to break the deadlock of the format in certain regions and catch up with the runaway success of the Nintendo Wii. – good luck with that – and these bundles are set to release in Europe (and presumably the UK) to help with that.

Consumers who purchase the arcade system will receive copies of Xbox Live Arcade Unplugged Volume 1 and Sega Superstars Tennis. Meanwhile, purchasers of Premium or Elite will receive Lego Indiana Jones and Kung Fu Panda: The Game.

The bundles look to be available from October 17th.

Not exactly a bundle for the hardcore, but it’ll definately attract the soccer moms.