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360 Elite
I am leaning towards the Elite system. I've been holding out for H3. Chances are, I'll buy a 360, elite or otherwise, sometime in Sept. If the price drops before then, well that'll just be fan-fluffy-tastic, won't it?! ;)
If not, it isn't a huge deal. If it stays the same, I might opt for the "military special" on base.
As for the PS3, I think this is too little too late for Sony. A price drop really isn't that enticing when it is still higher than the system that's already blowing your product out of the water.