Remember the “three red lights of death” issue? Well, how can you forget, and it looks like many of us maybe in for some “three red lights” with the upcoming update for the 360. A trusted source working as a customer service rep for Microsoft has revealed to Gaming Confidential that there will be some “drama” when the Xbox 360′s Fall update hits on November 19th. The rep says that the update could bring the dreaded “three red lights of death” issue back up.

“The slick move by Microsoft here is that it’s releasing the update on the 19th, just a couple of days after the extended warranty period for launch Xbox 360s end. The owners of these units are headed for some pretty tense times in the weeks to come,” he said. “Our department is bracing itself from irrate callers after the update is released. I’m bringing some aspirin to work this holiday season,”.

[MS Rep: Fall update will be big trouble via Gaming Confidential]

At a recent event held in Delhi, Microsoft India revealed some very key information on the future of Xbox and the present. At the event they confirmed that the long rumored Xbox 360 Slim is actually real and that we should wait for an announcement sometime in December. The new version of the Xbox 360 was once rumored to be revealed in 2009, but know we now see that this rumor was actually wrong. Microsoft India has also officially announced its new Xbox 360 package deal for India, which is an 360 Core console, a 20 GB HDD, one wireless controller and free copies of Viva Pinata and Forza 2.

Source

(this image here is an artists impression)

Update: TheANGRYPixel is reporting that Microsoft India has released a statement denying any such announcement.

Microsoft-India says:
“We would not like to comment on any market speculation or rumor. In India we have the Xbox 360 core and the Xbox 360 Pro console currently available in the market. There are exciting new game titles like Gears of War 2, Fable 2 and Fall Out 3 in the pipeline for the holiday season along with special promotions and festival offers.”

For those waiting to get an Xbox 360, it looks like July will be your month. According to an upcoming circular from giant retailer K-Mart, beginning July 6 the Xbox 360 will be marked down to an unbeatable price of $299.99.

To many gamers this maybe a smart move from Microsoft, giving some gamers no excuse to get their hands on an Xbox 360. And while the $50 price cut is looking like it is only for the Xbox 360 Premium, if Microsoft took only $20 off the Core unit it would come head to head with Nintendo’s Wii.

Xbox 360 price cut is coming around July 6th, price will be $299.99 [High Def Digest]

According to a member of NeoGaf, Microsoft, the makers of the Xbox 360, is planning on revealing new games for the Xbox 360 at MS Gamer’s Day.

“I was looking for the Banjo assets and I found some interesting folders at MS press site. Unfortunately all of them (except Banjo) are empty.. until Tuesday I think.”

You can view pictures from the Microsoft press site by clicking on the link given at the bottom of this post.

[Rumor: Possible new games at MS Gamer's Day via N4G]

And what Hollywood? "The reason why ticket sales are down is because of video games", my butt! According to the Box Office charts, Grand Theft Auto IV is not the only thing that is making the fans go crazy. Today, we got news that Iron Man has made over $100.8 Million in ticket sales, or in other words, alot of money. So maybe next time they should point fingers at the crappy movies for ticket sales going down.

Microsoft has announced that they will be making Forza Motorsport 2 a classic game for the 360, giving racing fans another reason why they should pay more attention to this game. The game was developed by Turn 10 Studios as a sequel to Forza Motorsport for the Xbox 360. The classic edition for the game will be sold for the amazing price of $30.