Microsoft is offering a $50 mail-in rebate on all Xbox 360 Elite purchases starting today (September 22) and ending October 5, making the previously $400 console SKU a mere $249. The offer is valid only in the US, but purchasers can certainly use that cash-back toward component cables, a Wi-Fi adapter, HD transfer cord, HDMI cable or ... any one of the many missing peripherals that brings "flexibility to consumers."

Shortcut: Rebate form

[Via Major Nelson]

This article was originally published on Joystiq.