I think a Holiday price drop is very likely and would be an incredibly smart move on Microsoft's move, it would be one more nail in Sony's already spike filled coffin...
that would be kool if a price drop happen, not only would they kill ps3, but lots of my friends would start getting it and then i could pwn them on xbox live, dam, seem so early for a price cut though, they should wait a bit more in my opinion
its not gonna change anything really. if you think about it. people are still gonna buy the PS3 and people are still gonna buy the 360. i prefer the 360 though