360 Price Drops Happening Anyway...

So, it would seem the inevitable price dropping of the Xbox360 has begun, but Microsoft are insisting that it is not them forcing the price reduction, it is in fact the retailers which have decided to reduce the prices. I'm not sure about american retailers, but in the UK, play.com has reduced the price of the core package Xbox360. It remains to be seen whether Microsoft will reduce the price officially, but with retailers doing it at their own disgression, need Microsoft officially reduce the price??