Microsoft is taking a set of sharp blades and ravenously cutting prices across the board on Xbox Live Marketplace content, starting right now. Already inexpensive (and wonderful) titles like ilomilo and Outland will cost you a cool 400 MS Points ($5) apiece, while deep multiplayer fare like Monday Night Combat and Section 8: Prejudice are going for 600 MS Points ($7.50) and 800 MS Points ($10), respectively.

Also, hey, if you're not one of the over 2 million people who own and adore Trials HD, here's another chance to grab it on the cheap (600 MS Points/$7.50). It's unclear when the "Extreme Shopping" sale will end, so we've asked Microsoft for more info. For now, enjoy the sweet, sweet savings while you can.

[Image credit: Ronald Wong]