In a word...NO. Microsoft is sitting pretty on top of all things videogaming right now. They have NO reason to lower their prices right now and the only reason they would lower them is maybe to drive sales even higher and that would only occur during the "Holiday Season". So like for a month of so. Other than that I'm pretty sure they're going to keep prices the same as usual because people are still buying them at a steady rate and its a great system with a justifiable price.
The Elite on the other hand is a whole nother question. For $80 more I would like a little big more of an upgrade than just HDMI (and not the latest version according to sources at that), bigger Hard Drive, and black color job. But then again thats a whole lotta extra space and a very NICE looking color job...lol. I'm gonna have to ask the experts on this. ...Is the Elite worth the money?