The 360 price drop is official and here is what that means for us Canadians:

Xbox 360 Elite = $499.99 CDN ($50 drop)
Xbox 360 Premium: $399.99 CDN ($100 drop)
Xbox 360 Core: $299.99 CDN ($100 drop)

Courtesy 1up.

So if you’ve been waiting for the price to come down before buying a 360, have at it. Halo 3 probably won’t suck.

If you’ve been waiting for them to actually repair the design defects you might want to wait a little longer. Oh, and you should under no circumstances buy the core. Unless you like paying more for a HDD so you’ll be able to play all the games.