That’s right, tomorrow!  Joystiq has reported the fact that Microsoft will be dropping the price on all three XBox 360’s effective tomorrow, August 8th.  Hit the jump for all the details.

What is strange about the price drop is that that it isn’t a consistant drop across all three consoles.  It looks like the Elite is getting a $30 drop to $449, The premium, or pro, is getting a $50 drop to $349 and the Core is getting a $20 drop to $279.

It would make a lot more sense if Microsoft were to just can production of the Core altogether because I really see that model as a waste of money.  I understand dropping the Elite less because of the HDMI and 120 GB hard drive.  I’m still not convinced that we won’t see another drop on the premium by or shortly after Christmas.  I really think that a total drop of $100 is the sweet spot because it puts distance between the XBox 360 and the PS3 (thus giving some credence to the 360 being a “better value”) and it suddenly gives Nintendo and the Wii a serious run for their money.

The oddest thing about this price drop is that Microsoft says it timed the drop to coincide with the release of Madden ‘08 a week later.  Last time I checked, just about every console (including the Commadore 64) was getting Madden ‘08, so either the 360 version has some amazing exclusive content or they’re using it as an excuse.  I’ll let you be the judge.