Now the Xbox One is really worth its price. At least that's what a lot of gamers are saying. In a recent announcement, Microsoft has slashed the price of the original Xbox One console to its lowest ever, with the gaming machine now priced at a very modest $249. That price applies to the 500GB versions of the console, even with bundled games like Gears of War: Ultimate Edition, Rise of the Tomb Raider, and Forza Motorsport 6.

The massive price drop is the third cut that Microsoft has applied to its current generation aiming console during the last two months. Just last June, the Xbox One's price was brought down to just $279, practically half the gaming console's price during its launch. If any, Microsoft's most recent price cut for the Xbox One seems to be designed to clear the tech giant's inventory before the arrival of its spiritual successor, the Xbox One S.

The $249 price for the original Xbox One appears to be a permanent discount, too, with Microsoft stating that the console would be available at the lower price "while supplies last." During its previous Xbox One promotions, Microsoft had always given customers a clear date as to when the discount would end.

Despite the very attractive price, however, a number of Microsoft's fans have stated that waiting or the Xbox One S would still be a better deal. After all, the Xbox One S, a $299 machine which features 4K apps, HDR gaming, a smaller form factor and a redesigned controller, is indeed worth the $50 extra.

However, rumors have been emerging that Microsoft would only be launching the 2TB version of the Xbox One S on August 2, with the $299, 500GB version only to be released later this year. The 2TB version costs $399, which is a full $150 more than the current discounted price of the Xbox One.

Despite the better value of the Xbox One S, it is very hard to argue that $249 for the original Xbox is not a very bad deal at all.