Microsoft's officially announced that the Xbox 360's 20 GB unit will now be reduced to US$ 299. The company's also confirmed the existence of a new 60 GB unit, which should be arriving in stores soon. Further details on this matter are available in the full article.

Welcome back to another edition of Xbox 360 Weekend Warrior, where we recap the latest news and events in the Xbox 360 world. Last week was pretty epic, since it was the inaugural post of Xbox 360 Weekend Warrior and all, but this week offers some goodies as well. Learn about some new games, content delays, and price cuts after the jump!

An Xbox 360 that's cheaper than the Wii? We never thought it possible, but it's actually come to pass in Australia, as a recent price cut has Microsoft's console AU$ 50 cheaper than Nintendo's Wii. Learn more about this price cut after the jump!

 Remember those ice extras that we've reported before that the repackaged Gears of War is set to get? Microsoft has confirmed them and they'e set to come in a couple of discs. More importantly, a price cut has been revealed to make the deal even sweeter. Release and pricing information along with other details follow after the jump.

More supply and demand blues have been plaguing video game retailer GameStop, but at least there appear to be some good things coming. On one hand, Wii shortages will still persist in the coming month. On the other, next-gen consoles are actually expected to get a price drop some time this year. More details about  this in our full article.

The Xbox 360 price drop in Europe may be taking the console wars for another spin. Analysts surmise that Microsoft will also introduce the price drop in the U.S., so that the console will get the drop on both the PS3 and the Wii. Follow the "read more" link below for the details.

Will the rumored European Xbox 360 price cut turn out to be true after all? According to a German business publication, it's going to be a go. While we're crossing our fingers with high hopes that this is already a confirmation of the price cut, we're still filing this one under rumors. Check out the details in the full article.

It's been a while since people began wondering when Microsoft will unleash its next Xbox 360 SKUs with newer chipsets, and that may happen sooner than we think. According to various sources, Europe will see a price drop across all models of the console. This could be first step for pushing new Xbox 360s in the market, but for now, see the full article to get the details.

It's that time of the week once again for GameStop's weekly deals. This week GameStop is offering price drops on Viva Pinata: Party Animals, Clive Barker's Jericho and Zack & Wiki: Quest for Barbaros' Treasure. Also this week is the announcement of the Wii Sweepstakes, a chance for you to win a Wii. Details in the full article.

Microsoft's early Chrismas present for racing game fans would have to be the price drop of the Xbox 360 Wireless Racing Wheel. For US$ 99, you can now avail of the peripheral that promises an authentic racing experience. Drive to the full article for more details!