Destructoid: There's nothing solid on this yet, but some signs out there seem to point to the current Xbox 360 Elite, the 120GB model, becoming extinct. Right now it seems that most retailers are out of stock on this model, including Walmart, Gamestop and Best Buy. Hell, Kotaku says that right now, GameStop is giving you a $50 gift card with the purchase of the Elite. Maybe they're trying to clear shelf space for something new. And this same disappearing act is happening to the separate 120GB hard disk. Just try finding one now.
I asked Microsoft's Aaron Greenberg about the hard drive specifically last week. I pointed out that it would be nice to have that 250GB hard drive from the Xbox 360 Call of Duty: Modern Warfare 2 system separately as an upgrade.