I was torn over getting the Elite or just the premium as well : There really is no NEED to get the elite, the premium will do you just fine. The elite has its perks, the nice black finish, the bigger hard drive. Both of them have HDMI ports now, and you need to get the HD-DVD player separately since the Elite does not play HD-DVDs (big let down). I ended up getting the Elite.. it was only 100 more anyway and I didn't care. The black finish is slick as hell and I can store alot of music and download more games now.
Definitely get the warranty. My first 360 needed to be replaced and with the warranty you just walk in and get a new one. With the Microsoft warranty, you have to mail it in and wait.
So go get one.. and then get Halo 3 !!!
2012 e70 X5 xDrive35i M package Carbon Black
pervious: 2011 X3 28i | 2007 e92 335i coupe | 2008 e90 328xi Sedan | 2002 e46 M3 coupe | 2003 Z4 3.0