It all comes down to sales. Sony is selling more systems. MS is trying to counter this by offering a bundle with a reduced price. I think that the first real marker for sales numbers will be more viable in the summer. With that being said, it appears that MS really has not fully recovered from the worst E3 PR nightmare last year. I am actually surprised they have done this well considering how bad they were having to climb out of the hole they dug.
Would love to win a contest, fingers crossed :)