Anyone that pays $50 for Xbox Live is paying too much. You can get it for cheaper almost anywhere on the internet. Amazon has 12 month cards for $35 for crying out loud. I understand $50 is retail price but just like anything, do a little shopping and you'll find better deals.
To be fair this new 360 should have been announced years ago. Its features should have been included in the Elite from the start. Either way Natal is not gonna appeal to most gamers on the system already and I haven't got much hope for the Move either but we shall see that later. Gaming to me has and always will be with a pad.
Agreed, things like the side vents were a must when playing GoW meant an imminent RROD. Then again, I'm happy I didn't buy that Elite now, even when the slim is not cheaper.
I have a little interest in the redesign, but I'll wait to hear about reliability first (who knows about heat/airflow in the new case yet...) before deciding to trade up my Falcon model. As far as Natal/Kinect, absolutely no interest at all. The launch titles sound like shovelware that could probably be played with the Xbox Vision camera.
Finally we have confirmation of the dimensions of the new 360 S: 270mm(W) x 75mm(H) x 264mm(D). Which is apparently 17% smaller than the original.