SlashGear

We had a hint it was coming on Valentine’s Day, but Engadget is quoting the old “trusted sources” chestnut and spilling the proverbial beans on Microsoft’s XBox 360 Elite.  Clad in a sexy black catsuit (which may in fact turn out to be a black casing) it’ll be a limited edition run of the console, sporting a 120GB hard-drive and all-important HDMI port and priced at $479. 

Once they’ve all been sold - guesstimated to be late summer/fall – Microsoft intend on upgrading the existing “Premium” model with the new storage and HDMI.  Hopefully they’ll also run as cool as the Elite is rumoured to; however the HD-DVD drive will remain an external accessory and there are no current plans to add in WiFi.

The fanboys are already foaming at the mouth, arguing about whether this will be enough of an upgrade – along with Microsoft’s lead - to stave off the PS3′s assault.

Xbox 360 Elite [Engadget]