Yesterday, word began to circulate that Microsoft was cutting costs again--by doing away with this year's X07 event entirely. Speaking on the E3 podcast of Microsoft fan site Squad XP, Xbox Live marketing manager Aaron Greenberg flatly said that "There's not a real X07 this year." And while Microsoft's official spokespersons refrained from comment, last night Xbox Live director of programming Larry "Major Nelson" Hyrb posted a small note (pictured) on his heavily trafficked blog morosely confirming X07's demise.