Good news to all gamers and Xbox fans, Microsoft will soon announced a limited edition black in color Xbox 360, the ‘Elite’ model. It will be pride at $479 and comes standard with a 120GB hard drive and an HDMI port. It is expected to hit stores in Q4 2007. Elite models are said to runs cooler than the normal 360s, but they are still not confirmed to have the 65nm chips.

[via Techeblog]