I know of at least 8 who have been saying for weeks that if the Elite did come to fruition, they'd sell their 360s and buy a PS3 instead.

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Just to make perfectly clear what this is, in case I end up confusing someone:

The 360 Elite is a bog standard 360, with black casing, a HDMI port, and a 120gb HDD which will be released separately as well, in case Core and Premium owners want more storage.