One of GamerNode.com's Microsoft Europe sources has just sent them an email with some news about a future Xbox 360 rebranding revealed at a press event in Frankenchomps, Belgium hours ago. According to him:
"The embargo just lifted on some news I got earlier. At an as of yet unknown date, the Core will be completely phased out and repackaged as the 'Xbox Arcade: Just Play' pack. It will come with 5 games (I assume Uno and Pac-Man are two since I believe I saw them on the box art shown), a 256 mb memory card, and will be priced at 279. I'm not 100% sure about this part, but my notes say it will have an HDMI exit, but no cable in the box."