Microsoft just recently slashed the price of the XBOX 360 Arcade model to $199. They now say they will also knock off $30 of the 120GB Hard Drive add on to bring the price down to $149.
Apparently Microsoft hasn't thought about these recent price cuts very hard. Why would you buy the "Elite" model when you can get the same (Arcade model + 120GB HD) cheaper just without the slick black finish.
