This is good and bad news, i.e

The price has fallen by $100 in the US, however we saw the latest price of PS3 Slim on the conversion came to £250, meaning the Elite 360 is $299 in the US, so should convert to £250 as well.

Why is this an issue?

The current pricing is set at £229 here in the UK, and most are expecting a price drop (including myself), but i do wonder how UK retailers will see this, and i hope the price will go down and i'll go buy one as soon as the latest "Jasper Revision" stock hits the UK.