Microsoft is preparing to drop the price of the Xbox 360 Pro model from $349.99 to $299.99. The information was leaked from the scans of various electronic retail stores. GameStop has send an internal store memo showing the price cut, which was leaked by Engadget. Scans of Best Buy and Target ads also shows the new price point and confirm the $50 price drop for the system. There is no word on whether there will be a price drop for the $279 base model or not. Rumors are that Microsoft is making the price cut to make room for a new 60GB Xbox 360 system.