Walmart offers the Sony PlayStation 4 500GB Gaming Console, model no. 10034PS, for $399.99 with free shipping. (Amazon offers it for the same price.) Outside of bundles, that's the lowest total price we could find by $120. It includes the system, a DUALSHOCK 4 wireless controller, wired headset, and cables.
Update: It's now out of stock at Walmart; however, Amazon still offers it for $399.99 with free shipping.
Amazon is taking preorders for the Microsoft Xbox One Game Console with Titanfall for Xbox One for $499.99 with free shipping. That's the lowest total price we could find for the pair by $50. (This is a just-announced official bundle from Microsoft; other merchants should have the same deal within a few days.) It's due for release on March 11. Note that you'll receive a download code for Titanfall; it doesn't include a disc.