$400 will get you a lot these days. You can buy yourself any of the existing major consoles on the market, or you soon might be able to buy Microsoft's newer and more improved Elite console bundle. Word is that Microsoft will be jam-packing its existing Elite bundles with copies of Halo 3 and Fable 2, you know, just for fun. The best part is, the console won't be increasing in price. The bad news is that you're now furious if you already bought an Elite console.
Ars Technica says that we'll have confirmation on this rumor by the end of next week, so that leaves us little time for the confirmation/debunking party. Who's on chips and dip duty?