Personally I was considering upgrading as well for the $150 price point after my trade in but I have the original 20gb pro. If you've already got an elite, I would not advise going for the slim.
1.) If its quiter running your looking for just install the games to the hard drive and even the original xbox360 runs as silent as an assasin.
2.) There is already an extremely low probability your elite will RROD on you as the issue was all but entirly resolved by the time they released the elite, and please correct me if I'm wrong but I believe the elites were redesigned specifically not to RROD.
3.) Don't get caught up in the hype. Personally I have games saved to my hd, download arcade titles, and have a lot of dlc for the games i play, and i still have a few GB left on my 20gb HD. so i cant imagine why you would ever require a 250gb drive other than bragging rights. ( i was considering upgrading to a 60gb drive so i could install more then one game at a time to it but other then that if you've got that 120gb drive, you should be fine. Save ur golds man, its too hard to come by these days.
That's my opinion on it for ya.
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