They did make inference that they would be taking Nintendo on more strongly, and moving into the casual market. Maybe the grey IS the core - they are now colour coding them by SKU? Or maybe its just a new colour.
Someone also suggested a core could now have a 20Gig drive by default - allowing developers to assume a hdisk is present, and encouraging people to jump online.
The Elite should stay as the "top" model. I like the model of selling HD-DVD (or other) drives as an add-on. They could extend to BluRay if required down the track.
Gesta Non Verba
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