???
Where in US I don't think so and in Europe they still have a almost official 100 euros advantage if you consider that it's been two years in a row that Ms offers a 40 euros rebate during Christmas. I wouldn't not be surprised if they make the 200 euros price point definite somewhere between now and this fall in Europe.
It's not about winning but money, I think that MS can go away as it is in US (minus their SKU revamp) and be pretty much on par with Sony. In Europe (real Europe) Ms leads by around 1 million units and the trend is better for Ms than Sony, price cut may revert things and Sony may even ended up selling more. Anyway Ms won't be that hurt if Sony catch up or pass them. In this climate and in regard to actual sales, it would be quiet an accomplishment if Sony end up with a 1millions lead and in regard to user base 1 millions users difference out of 12/13 millions is peanut.
My point is no matter what Ms does or doesn't they can live with being outsold by Sony for some months even if it's in US+ Europe. It happens already when the ps3 price first dropped. Point is that Ms lead in the price war, they have no intensive to react quickly but at some point will.