So it's true after all. GameInformer's rumored black Xbox 360, HDMI enabled, is out in late April and it will empty your pockets for $479. Plus it is going to be a limited edition (Engadget says probably a couple hundred thousand units). Although some of you were already hoping that earlier SKUs would see a price drop after the Xbox 360 Elite's launch, that may not happen. As Engadget says: "Prices may remain the same with the 120GB / HDMI hardware upgrade in the Premium Xbox, but we may still see a price cut on the line when 65nm chips start shipping."

OK then, here's what you'll pay $479 for, as a true Xbox 360 fan, according to GI:

-black case (but you knew that already);
-HDMI port and HDMI cable;
-120GB hard drive (All right!);
-unfortunately, no HD-DVD integration.

Engadget dubbed the Xbox 360 Elite, they also said it would be a limited-edition machine (probably a couple hundred thousand units), it would have black case, controller, and headset, new packaging, sold alongside Premium and Core bundles. They also say that Xbox 360 Elite runs cooler than other models.

Many gamers will find some of the specs unsatisfactory, such as no built-in Wi-Fi. Seriously now, they could have done it if they're going to charge $479 on it and not to mention that it's a limited edition. Limited edition consoles should be equipped with everything. And while some may find the 120 GB a great feature (heck the PS3 has twice as less), it is one of the main reasons why the price is so high.

I must admit, the 120 GB hard drive is definitely something. It beats the hell out of the PS3. With a considerably lower price than Sony's machine and twice as much disk space, I can't imagine anyone not wanting the Xbox 360 Elite.