It's classic PR spin that has to be read in its entirety to be fully appreciated. Microsoft yesterday revealed the results of a survey by Ipsos and StrategyOne called the "Xbox 360 Holiday Entertainment Survey." The survey, which indicates that U.S. residents plan on doing much less travel and cutting back this holiday season due to to faltering economy, attempts to position the Xbox 360 as the must-have gift this year. Microsoft lists the key findings as:

• "60 percent of respondents are planning to stay at or close to home to save money over the holidays
• 71 percent are looking for one gift to bring the family together
• 89 percent are hunting for gifts that keep on giving
• 81 percent of adults in households with children are looking for gifts that provide entertainment while staying home this year2
• 86 percent of young adults hope to receive at least one video game this year
• 40 percent of adults will visit the movie theater less than last year."

After insisting that "being entertained at home is crucial to family happiness," the press release goes on to list the bundled holiday offerings for the Xbox 360, along with a brief mention of the Netflix partnership (which also requires a subscription to Xbox LIVE Gold, an additional cost).

But will it be enough to make an impact in the console wars? The Xbox 360 is still trailing the Nintendo Wii in console sales by 2 million, even though the Wii came out a year after the Xbox 360. Sony's PS3  netted all three voting spots in Amazon's yearly "Customers Vote" deals (with the Little Big Planet bundle currently in the lead for the deal). Microsoft needs to make up a lot of ground this holiday season, and the price slashing, along with the survey and Microsoft's "comparison tool" that allows users to compare the price of the Xbox 360 against other gift ideas, reek just a little bit of desperation.