@ Reasonable
The main technical component differences between the different 360 models is the inclusion or exclusion of 120 GB harddrives and HDMI 1.2 output. Seemingly nothing that can't be overcome.
I really don't think the higher end models are more popular than the lower end models as there's quite a big price difference between them for so few distinguishing factors. The Elite has been shipped in very little quantities before (if not constantly), IMO this to artificially provide the perception of overwhelming demand for PR purposes.