Just in case you're not keeping up, there are growing rumours of an imminent Xbox 360 price cut circulating the industry. Many think we'll see the Pro model replaced by a cheaper Elite, set to retail at $249 or $299 depending on your source. US site Kotaku scanned adverts from a forthcoming Walmart ad on Friday going with the higher figure.

This would, of course, bring the Elite price in line with the new PS3 Slim in the States. However, as the top-of-the-range Xbox is already just £230 in the UK (£20 cheaper than the launch price for PS3 Slim) it's unclear if we'll see a reduction, too.

Add in fresh gossip about an Xbox re-design and it's an interesting time for the HD console face-off. There's parity on price and HD size as well as extras like video-on-demand offerings...

It's customary to suggest that it'll be down to the games now, with system exclusives and downlodable content deals playing a key role. But, actually, a huge majority of the key Xmas 2009 titles are multiformat: Modern Warfare 2, Assassin's Creed II, FIFA 2010, Borderlands, Need For Speed: Shift, etc. PS3 owners, though, can add Uncharted 2 and the latest Ratchet and Clank adventure. Meanwhile, Xboxers will have Forza 3, Halo ODST, Splinter Cell: Conviction and Left 4 Dead 2.

As for next year, PS3 promises Gran Turismo 5, Last Guardian, Agency, Heavy Rain, God of War III and MAG, while Xbox 360 owners can look forward to Alan Wake, Mass Effect 2, Crackdown 2, APB and Halo Reach. There will also be a peripherals showdown - the PS3 motion controller facing off against Natal. Intriguing stuff from both parties.

Is this it then? Is 2010 the final round? The last set? The culminative innings for the current gen bruisers? They're cheaper, they're leaner, but is one going down? Well, let's face it, no. With the next generation of both machines almost certainly being assembled in R&D labs, this really isn't a war any longer - it's more an unending battle of attrition. At least until cloud gaming arrives - then all bets are off.