It's most likely real now with all these ads mentioning the $299.99 price: http://www.joystiq.com/photos/xbox-360-299-price-drop/
More proof here: KMart Catalog Ad also like someone stated joystick has many ads showing proof. Also if you buy from target you get a $25 gift card with the purchase of the new price drop... Target Ad
Good thing I got mine free. :lol: My dad was dating this girl that worked for a Jack Daniels place and they would hold competitions all the time where the people would win consoles and stuff. Whatever was left she got, and she gave it to my dad. He's gotten a PSP, a PS2, and a 360. He gave me the PSP and the 360. :lol: Atleast it'll be cheaper now. ^_^
Lucky ------, wish I could get stuff free. Im also extremely unlucky when it comes to winning things. Out of the 2432534343534 sweepstakes I have entered (from reputable companies of course), I have never won 1 damn thing.