Pros: HDMI, Black color matches premium a/v components, quieter than previous 360
Cons: Price.

My last 360 died after 6 months, so I traded up to the elite. I had been disappointed in the white color choice so Black really hit the spot. I also previously had some issues with using VGA on my DLP tv that I never worked the kinks out of. On my Elite, the HDMI works perfectly and setup automatically configured to my TV's resolution. The elite is noticeably quieter than my last 360 as well.

The first elite had a broken faceplate, and the second had a funky power button (had to press very hard). Maybe these faceplates are getting sourced from somewhere that doesn't have their act together. I put on an aftermarket faceplate and the power button now works great.

I hope Microsoft comes out with a crystal green halo edition console..... I would trade in a second for that.