It all depends on how much you're willing to spend, and what you want from your console.

1) If your're into downloading demos, music and Live arcade games go with the Elite. The Halo version is just a nice paint job with matching peripherals, for an extra $50. If your're into custom memerobelia go for it.

2) Only if you have an HDMI compatable tv.

3) Yup, but becareful,

I just got a new Elite on the 8th, and there was a power surge in my area. When I looked at my 360 the three lights were flashing. Then I restarted my console and they were gone.

Moral of the story: Don't play during thunderstorms.