I just got home with the Elite (My first 360). Holy F this thing is loud. For those that are curious, it looks like this thing has all the same parts as the old one. No real differences. Can't do Xbox live just yet because I moved in to my first apartment here recently and the Time Warner guys haven't come to give me roadrunner...but other than that it looks nice! Black FTW!TheSystemLord1

 Played a friends new elite this morning, and I don't even hear the drive unless the sound is turned off on the tv.  Once we popped in Halo 2 (I don't own a 360, so no 360 games), we couldn't hear the drive at all.  TV sound set at 25(out of 100).

If you aren't a 360 owner already, the Elite is the obvious choice if you're buying right now.  You get another connection option, bigger hard drive, and a different color console. 

Those are all +'s to me.  If it were my decision as a first time buyer, I'd definitely get the Elite.  $80 more than the Premium, and you get all that.  It's a no-brainer, or so it seems.

If you've already purchased the Premium, and need the hard drive space, buy a 120GB hard drive (there is a specific make and model for $80), and use the recently released tool to enable it for your 360.  The only thing you won't have is the black console, and accessories, but you've paid the same thing.  

take no notice of this show off were not interested in your over priced xbox and how spoilt you are i like me xbox 360 just the way it is and im not going to fork out nearly £400 for a black versiondjc509

I don't see it as showing off.  I look at is as someone that was proud and excited that he was able to get the new 360 so early.  In the business that is gaming, a few days early means a lot to a large group of people.  Just because you're not one of them doesn't make you any more special.  Likewise, because the OP may be the type of person to show off, that doesn't make him any less of a person.  I'm sure you've gotten things and ran to your friends all excited about it.  Grow up already.