Microsoft has finally announced their (unsurprising) price for the HD-DVD add-on drive. And it’s…. (drumroll please!) $199.99. So, if you buy a platinum system with the HD-DVD add-on, you’ll be spending a remarkably PS3-looking $599.98. Of course, what with the recent Fry’s deal and other bundles appearing all over the place, that combo might be quite a bit cheaper by the time the PS3 launches (or it at least might come with a few games in addition!).

Both Microsoft and Sony’s strategy are interesting in their own ways. While the Xbox 360 with HD-DVD add on doesn’t really look all that sleek or enticing, it does offer consumers the option of choosing whether or not they want to enter the Hi-Def DVD format war fray. And while Sony’s console looks ridiculously expensive, it does offer pretty much the same features as a 360 + HD-DVD combo, but in a sleeker package. It’s looking more and more like it’s going to be a close race for #1, but that could all change if MS decides to get really competitive with their pricing.