Videogame analyst Jesse Divnich has an interesting speculation about what might be Microsfot's big news at this year's E3:
"With E3 around the corner, we can expect Microsoft to make some type of announcement regarding a hardware price cut, the introductory of a new hardware SKU with new features, or both. If there is a hardware price cut, it is not known if Sony will follow suit right way, but it would be safe to assume that Sony would execute some type of plan within a 2 month window of any hardware price cut from the Xbox 360."
The price-cut might come in response to the PlayStation 3's gorwing sales when compared to the 360. Sure, it's speculation, but you never know, right?