According to Joystiq, it looks like the 360 is getting an all-around price slash sometime before September 7th.

While the 60 GB model will be dropping from $349 to $299 and the Elite will be dropping for $449 to $399, the biggest mark down is on the Arcade model: it’s plummeting a full 80 bucks, from $279 to $199.

If you haven’t already grabbed one, the coming weeks will be prime time for pickins with the 360. With at least 50 bucks off each model, you could pick up a year of Xbox Live and it’d be like getting it for free. Kind of.