Remember the bits and goodies that came pre-loaded on your Xbox 360? Well, bigger hard drive = more goodies. Microsoft is really packing 'em in on the Xbox 360 Elite HDD, and the standalone drive that will be available separately -- same content on both.
Although it's a ton of stuff, would it have killed 'em to throw in some freebie arcade games to help offset the cost? Especially for those people who will be just adding the drive to their current setup. Plus, this is all stuff you can download off Xbox Live anyhow, and are you going to want your drive clogged up with demos of Zuma and the Holiday '06 Accessories Video?