Microsoft has finally announced the official price of Kinect: $150. This shouldn’t come as a surprise; several retailers were pricing Kinect at 150 since E3, including Microsoft’s own online store. The 150 dollars nets you the Kinect add on, a power cable and a game: Kinect Adventures.

Microsoft also announced a few other bits of information. For one, Kinect first party titles will be $50 instead of $60 like most games these days. Third parties are not required to adhere to this standard, but so far it looks like they may be doing so anyway as Dance Central, one of the most promising Kinect titles, is also priced at $50.

An Arcade version of the newly redesigned Xbox 360 was announced and priced at $199. This model doesn’t include a harddrive, but does have 4GB of onboard memory. The new sku will be available starting August 3. The company also revealed plans for an Xbox 360/Kinect bundle that will sell for $300. The console included in the bundle is the Arcade model mentioned above.

What do you think; has MS overshot the price or is Kinect still going to prove competitive in the market?