Will Xbox 360 Core become Xbox 360 Arcade on August 24th?

It appears the Xbox 360 rumor mill is hard-partying once again, this time over the fairly sketchy information that in addition to the European price cut we mentioned earlier, the game system may be receiving a "changing of the guard" on the SKU front, with the dismissal of the Core system, and the inclusion of a new "Arcade" package. Word on Box Street is that Microsoft is about to upend the low-impact Core units, add an HDMI port, throw five free XBLA games in the mix, slap on a wireless controller, and put a new line of text somewhere on the box. Otherwise the system will remain the same -- AKA no hard drive, white finish, and a target of constant ridicule by your friends, and will be made available for €279 (or about $376). The whole thing makes you wonder if this could have something to do with that discontinued SKU rumor we keep hearing about in the US. Can't wait to find out? Join the club.

[Via Joystiq]