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Goddbless said:
That little port next to the ethernet is for old school AV output. I saw it labeled earlier in some pics. Check around the web and you should find it.


It's called a S/PDIF Output, it's digital audio output.  It isn't for old school Audio or Video, just primarily used when you connect your console to an AV Receiver/Amplifier.  Because I haven't heard of a 5.1/7.1 TV yet.  Some AV Receiver/Amplifiers don't allow for audio input on HDMI input because it's meant as a video only input/output on the receiver/amplifier. 

SPDIF is the primary audio interconnect for most other audio only stereo components.