This will surely boost 360 sales till next year.

I think a PS3 price drop may help but really a new 360 that promises to be better than the original is a big selling point. I'd love to buy a new system but since mine is currently working and is still under warrenty, it wouldn't make a lot of sense.

p.s. I have a fear there will be something wrong with this. I don't want to troll or anything cause I'm for the slim but I just have a feeling there will be a flaw to it.

This would definitely be the smartest way to do this imo....hopefully MS is using their brains on this one!

Is it because there usually is a flaw to just about every new product/redesign MS has ever made (hardware wise)

But if there is a problem (and I wouldn't be surprised since pretty much every product ever mad has some flaws to it) I don't think it will be anywhere near as bad as RROD

I do not think that it it will in the long run because the old model is being phased out and the new model does not bring too much new stuff with it.

for a VERY short while it may pick up 10,000 or so but like the last price cut the 360 still looks a far off bet. THEY NEED A NEW CONSOLE!

The new 360's are only 20% smaller, so MS isn't saving that much with their version of a slim design.  So, it may help a bit but the reduction in size is nothing like the PS3 which basically got chopped in half when it moved down to its own slim design.     

So, it will help a bit, but won't be a game changer by any means.

It wasn't half it was 32%

And the 360 was already way smaller than the original PS3 anyways so it didn't need to have such a drastic size reduction. 

Alright, but just dont expect a more dominant MS from this b/c not much at all has changed

I believe it will. Think of all those potential customers that would'nt buy the regular 360 because of the RROD and now thats been fully fixed and its even got built in wi-fi the only thing they can criticize is the annual charge for Xbox Live. Also wether you want to admit it or not the new design is class looking.

I think it will definitely make a difference for the first couple of months.  The newer model has wifi, a bigger hard drive, and runs quieter.  I think those will be selling points for current owners who want a new one and those who are questioning buying their first one.  In fact I am really considering trading in my old "Jasper" Elite for the newer one.  Besides the selling points I listed, the fact that it consumes less energy is a major for me as well.  However, I probably won't cause I don't have the money right now :(.

I do think they will have a newer Arcade model that will sell for $199.99 when the supply for the current one drys up.  It will be the new design and will have wifi as well and maybe be a shiny white.  However, it won't have a hard drive much like the current one.  Anyways, don't quote me on this since I only am guessing :).