Today's news that Microsoft will run a lengthy promotion that takes $50 off the price of the Xbox One brings the base cost down to $350. You can actually get one for $100 less than that from the Microsoft Store right now, provided you've got some old hardware to trade in.

The Microsoft Store is currently running a promotion (separate from the one announced today) that offers a $100 credit toward a new Xbox One when trading in a working Xbox 360 or PlayStation 3. It's not new, but combined with today's news that you'll soon be able to buy a One for $350, this means you're looking at spending only $250 for an Xbox One (without Kinect). Not a bad deal.

Even better than that is using the trade-in credit to get the Assassin's Creed bundle (which includes copies of Assassin's Creed Unity and Black Flag) or the Sunset Overdrive bundle (which includes the game and a white console and controller) for $250.

You don't need to rush in order to get these prices--the $50 off deal runs from November 2-January 3, and the $100 trade-in offer expires on December 31. That should give you time to finish up any games you might be in the middle of or to track down the cables for an old system--Microsoft is accepting more than just the most recent models of 360 and PS3.