Though I congratulate MS for a bigger HDD (120 GB), but WTF?!?!?!?!
USD 479, i might as well better buy a PS3 and get Blu Ray for USD 20 more (granted that is for the 20 GB PS3)
Now for some exposition and history:
Though much has been said on these here forums about how Neil's 360 compared with Marco's PS3, I do not believe that this has been a fair representation. Yes, Neil's broke down, but I have a known a fair number of ppl for whom the 360 worked like a charm (granted, though the PS3 is notorious for it's amazing build quality)
And Marco's PS3 just outclasses Neil's 360 just based on the set-up, no offense, but comparing graphics based on what was seen on a small (sorry Neil) Standard def TV at 480 compared to an awesome, awesome Plasma HD at 1080 is downright ignorant.
For me, instead, the PS3 vs. 360 battle has been one of money and games, The PS3 just cost too much (IMHO) and though I do believe that currently the 360 has better games coming out for it (not fanboy baiting, just my opinion); the increasing advent of 3rd party multiplatform titles means that both consoles will have most games.
What really gets my goat is that MS still hasn't seen the wisdom of a WiFi option built into the 360. Why the fuck not, both the 360 and PS3 are gearing themselves as media centres on top of gaming.
hell, I almost bought a 360 earlier this year so I could stream my torrents onto my TV (via the 360) but the lack of WiFi (or rather the added cost of getting WiFi stopped me)
And another thing, why the fuck is MS trying to force ppl to buy their HDD's, just go the Sony route and allow everything. You assholes!!!! why have you gone again all the trust/faith I put in you.
I take back everything that i said about Sony earlier, about how they have their head up their own asses and feel that customers are idiots and there for the taking (ala Rootkit fiasco), MS has taken that crown instead.
What bugs me is that I really did believe MS had the lead, but Sony just has just come to the party in a big fucking way eg. Free Home, built in Wifi, allowing all HDD's.
Ms needs to do something to combat this, and this new 'Elite' SKU is not it!
Check out this comparison at 1UP,
they compare the 360 and PS3 and what the final cost would be, if you added all the features the other has. Basically, Sony FTW!!!1!
and yes, the guy got the calculation wrong a bit, forgot to add thye 200 for the HD DVD drive for the 360. making the PS3 even more of a deal.
If I had the money, I fear I may be buying the PS3.
Well, once more games come out for it - Mass Effect just looks so sweet, and Shivering Isles just came out for the 360.

PS. Matt, feel free to post this in the oddblog, edit as you will.
PPS. I was going to post this earlier, but the fucking turkish piece of shit hacked the site. Asshole!