We all know about the recent XBox 360 price drop (not clearance sale mind you). But you may not know that Game Crazy is now offering $50 off a 360 or PS3 when you trade in an old XBox or PS2.

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Every single GameCrazy store in the nation is having a midnight sale on Madden 08 Monday night into Tuesday. Now, if you happen to live in the Colorado Springs area you can come out to the store on Research/Union and get in on a special live recording for a segment of the GameCrazyRadio Show.

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Ok, so this has been in speculation for a while now, but it seems pretty well confirmed.  In a couple of ads, the 360 is being shown with a nice little price drop right around the time Madden 08 releases.  This comes from ads posted on Joystiq (good ole Joystiq) and also CheapAssGamer (you have to register on log-in to view the post on it).  If you remember, it was CAG that first exposed the PS3 price drop (yeah, that’s what it was, a price drop), so this is pretty big.  The ads shown are from Circuit City (which, by the way, shows the drop on ALL 360 systems), Wal-Mart, and Toys-R-Us.  One thing that makes this interesting is it now brings the Core 360 well within Wii range which could give people something to think about.  The Circuit City ad also shows that you get Rockstar’s Table Tennis for free with the purchase.  Pretty tempting, but I must point out that we do match at Game Crazy and you also get 12 free rentals when you purchase a system from us (just don’t forget the ad).  Shameless plug, I know, but you get them in when you can.

See, just like I said, once I open my mouth, Microsoft does a price drop on the 360 and the HD.  Maybe I should do some articles about a Lexus or something.

As you have all been hearing, reading, seeing, absorbing, etc., the 60GB PS3 has been dropped to 500 bones. This is effective at every retail location. So, why buy it at GameCrazy? Because you get so much more for your buck. Let’s roll a scenario for you…

You want a PS3 now that it has become a smidge more affordable. You have 800 ducats to spend. You hit the nearest WaldoMart and grab the console, an extra controller, and 3 games (each $59.82) and walk out with just enough money to ride the little horse on your way out.

OR…

You hit LameStop with the same 800 clams. Here’s the good news, you can trade in your PS2 slim now and add to that money you can spend. Sweet, right? Until they tell you what they give in trade. Still, it helps. So you pick up the console, 4 games, and an extra controller. Better than WallyWorld.

OR…

Bring your 800 Washingtons and your PS2 Slim to GameCrazy effectively giving you 860 to spend. Now, you get your console for $540 w/ tax, 6 games (used games are B2G1 when you buy the system making them with MVP and tax $98 for 3 games!!!), an extra controller, and 12 FREE PS3 game rentals. Consider that a PS3 game costs $8 to rent.

Here is where one might usually say “Do the math” but since I did the math for you, all you gotta do is show up.

 Oh, and pre-order Madden 08.

This news started surfacing on July 7th, but in an effort to push BluRay, Game Crazy recieved a memo that when you purchase qualifying BluRay players (and the PS3 happens to be one with no distinction between 20GB and 60GB versions) between July 1st and September 30th, you qualify to recieve 5 free BluRay movies.  You get to pick one movie from each of the five following categories.  The mail-in form can be found here:

Cat. 1:  The Guardian, Pearl Harbor, Invincible, Chicken Little

Cat. 2:  Corpse Bride, Phantom of the Opera, Blazing Saddles

Cat. 3:  Stealth, Resident Evil 2, Underworld Evolution, Stir of Echoes

Cat. 4:  Italian Job, Black Rain, Babel, The Devil’s Rejects

Cat. 5:  Omen 666, Kiss of the Dragon, Transporter 2, Hart’s War, Species, The Last Waltz

This makes for an interesting push from Sony to get BluRay out into the market.  I did some research to see if by some chance (no matter how unlikely) there was some sort of similar offer for purchasing the HD-DVD addon for the XBox 360 (I’m not going into regular HD-DVD players as this is a gaming site).  It looks like through June 16th of this year, Best Buy and Circuit City were offering two extra HD-DVDs in addition to King Kong that the addon comes with.  The only deal I could currently find is that Amazon.com is currently offering a free movie when you purchase the HD-DVD drive through them.  If Toshiba ends up adding the HD-DVD addon to their offer of free movies and anyone lets me know, I’ll be happy to put that up.  It would seem natural that they would just to add to their customer base.

With the news coming fast and furious about the PS3, we did some digging and obtained the new used prices on PS3’s.  At our particular store, we have one used PS3, and it’s amazing what I difference a day makes in price.  Yesterday, the used PS3 60GB was selling for $549.99.  Here are the updated prices for the 60GB and 20GB used PS3’s:

Used Playstation 3 60 GB USED:  $449.99

Used Playstation 3 20 GB USED: $339.99

It remains to be seen what other retailers will lower their prices to, but this is about in line with what I expected.  To get updated trade-in values on the PS3, contact your local Game Crazy.