In the wake of a less-than-stellar quarter, Intel will announce massive price cuts on their microprocessors November 1st.  Prices on 233MHz and 266MHz Pentium II processors, for example, are expected to drop about $70, bringing the prices down to $430 and $560 per processor respectively. The Pentium II 300, meanwhile, will drop from $795 to $745.

Price cuts at Intel will also lead to falling system prices at major vendors such as Dell, Compaq and Hewlett Packard. If you're interested in buying a current-generation Pentium II, you may want to wait a few weeks