New low-cost Xbox360 approaching?

From CNet News:

"Recent weeks have seen a flurry of rumors that the Xbox360 Core is about to be replaced by something called the Xbox 360 Arcade. For the same $280 price tag, the Arcade bundle will include a wireless controller, HDMI output, and a 256MB memory card preloaded with five Xbox Live Arcade titles.

The release date remains fluid, but October 23 seems to be the consensus."

This is obviously a gaming system for the $$$-conscious gamer, with it barely being more expensive than the Wii, it's definitely a feasible platform. Fanatics will most definitely dismiss this gig as silly, but I think it'll convince more people to opt for this console as their main gaming system. Hard-core gamers will unlikely stick with the Elite or the PC, but that's a different story entirely.