Microsoft has officially given the Xbox 360 HD DVD player a price slashing by $50. This brings the player down to $129 from the $179 price tag that it got last July.

The player still comes with the 5 free HD DVD movie offer that it had before along with a copy of King Kong, but it we also feel it comes with the distinct stigma of a dying technology being run out by Blu-ray. We wouldn’t be surprised to see prices lower than even $129 once it hits some of the major retailers.

Microsoft made an announcement today at Comic-Con International that they will be cutting the price of not the Xbox 360 itself, but the Xbox 360 HD DVD player. Effective August 1 the HD DVD player price will drop by $20 from $199 to $179. In additional to the $20 reduction Microsoft will be extended the “Perfect Offer” from Toshiba, the maker of the HD DVD player, which gives a mail-in offer for five free HD DVD movies.

Microsoft had a couple of other related announcements regarding the launch of “300″ and “Heroes: Season 1″, both on HD DVD. “300″ will be available on-demand through the Xbox Live Marketplace on August 14th and the Heroes pilot episode along with other promotional footage will also be available for download through the marketplace.