Xbox 360 Elite

We all knew it was coming. Now it's finally official. Microsoft announced that the Xbox 360 Elite, formally know as the Zephyr, will be available in the US on April 29 for $479. The new version of the console will sport a sleek black finish, a larger 120GB hard drive, and HDMI output capabilities.

The larger hard drive will allow you to store more media from the Xbox Live Marketplace on the console and you'll finally get up to 1080p of HD output with the HDMI support.

It should be interesting to see how well the Elite will do against the 60GB version of the PS3.