the 20gb hard drive is too small. and you actually only get to use 12gb. some demos are 1gb or more, movies are a couple gigs or so. and the movies in high def are more than the standsard def ones. then you have your music, arcade games and downloadable content. IMO, the 20gb drive is too small, unless you just want to use the 360 for basic gaming.
from what ive read, you
can hook up an external hard drive via usb. but you can only store music on it (
maybe computer video files and pics too...not sure about that). but you
cant store profiles, downloadable content or anything else from marketplace on it. i doubt that M$ will make the IPTV able to record to an external hard drive...probably be able to use the 360's hard drive only (to encourage ppl to buy the 120gb one, cha-ching!! thats the micorsoft way). and like most people, the hdmi is not real biggy to me. my tvs only go to 1080i cause i "jumped in" on the whole high def thing a few years ago, and now im in the same boat as with the 360....there is new and better out now. from now on, im just gonna wait for the dust to settle before i make any big purchases (like hd-dvd vs blu-ray).
and no matter which side you are on, the fact is that microsoft said we wouldnt need hdmi, then they add it later. they said the 20gb hard drive would have plenty of space. now they release the 120gb drive. my 360 bundle was $500. i could spend 179 on the drive separately. but then i would have almost 700 in the same thing you will be able to buy for under 500!! and the old 20gb drive will just be collecting dust, so its not like ill benefit from having it around. if this is how they do business, i doubt i support microsoft so readily in the future.
you guys need to check out
the other topic about the xbox elite. it has all the info about the new 'level' of xbox.