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No next gen video format (HD DVD or Blu Ray) but almost charging PS3 pricing for a Black case and 120 GB.

Gamespot reports:

$479 black 120GB 360 coming next month?

What we heard: Yes, you've heard this rumor before: Microsoft is readying a new version of the Xbox 360 with a 120GB hard drive and an HDMI video output port. The rumor's been around since January, thanks to a leaked photo of the so-called "Zephyr"--an HDMI-equipped 360, which Microsoft claimed was only a concept model.

Now, though, word of a 120GB 360 has elevated above the realm of speculation. Leaked scans revealed that next month's issue of Game Informer has a straight-up, nonspeculative news article containing a bevy of details about the machine.

According to GI, the rumors are all true: The new Xbox 360 has an HDMI port and will be bundled with an HDMI cable. It also sports a 120GB hard drive and a matte black housing and will come with a matching black controller. It will also be released in "late April"--much sooner than the rumored holiday launch.

That was the good news. The bad news is the console's reported price--a hefty $479, just $20 less than the 20GB PlayStation 3. But, unlike Sony's console, the new Xbox 360 won't support a next-generation video format. GI quotes a Microsoft rep as saying the format is "not proven." That fact was backed up by a recent report by industry-research firm Nielsen/Videoscan, which found the PS3-supported Blu-ray format is outselling HD-DVD two-to-one.

Luckily, early adopters with overstuffed 20GB drives will reportedly have an option other than plunking down nearly $500. The article says the 120GB hard drive will be sold separately for "under $200"--a welcome development for the cash-strapped 360 owner eager to take advantage of Xbox Live Marketplace video downloads and the forthcoming 360 IPTV service.

The official story: Even though the GI article is not rumor-based, Microsoft dismissed it as such. "It is our standard policy to not comment on speculation," a rep said. "Microsoft has not announced anything regarding a new Xbox."

Bogus or not bogus?: A source close to Microsoft confirmed that the new 360 is not bogus. However, said source had no information about the timing of its release.
 

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Good info. Thanks.
 
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