they won't want the outrage of a $500 system, but i'm definitely expecting $450. i just don't see them hitting the $400 mark at all.
If they make a case for it to be $500 then I think most people would be fine with it. Not having Kinect and being a gaming machine first and foremost helps soften that blow. Having hardware that then supports it costing that much becomes a major factor. Should be a fun time when they do finally announce price/specs.