Game Informer's April issue confirms the mountain of rumors about the "Zephyr" Xbox 360. The Black, 120 GB HDD, HDMI enabled Xbox 360. Yeah, that one. Also worth noting is that the magazine has a policy of not writing fake stories in their April issue, as well as confirming that the story is indeed true. So, we're looking at a third Xbox 360 SKU in late April priced around $479 USD, which still has the standard DVD drive. After all, they already have a Black HD DVD player model produced. How do you current 360 owners feel about this? Are you going to buy a new console to take advantage of its 1080p via HDMI goodness? At least it comes with an HDMI cable.
Apparently, the 120 GB HDD will also be available for sale separately for "under $200", but the same can be said for the HD DVD player. Hopefully it will follow suit of the memory units and take the 20 GB HDD's price, bumping the previous drive's cost for consumers down. We've got scans of the magazine for your viewing pleasure after the break.

With the revelation that the black Xbox 360, also known as "Zephyr" is in fact real (the image above is a dev kit, by the way), Engadget has gathered some concrete details from a trusted source. Some of these details were uncovered earlier this morning, but some questions -- particularly the notion of built in WiFi -- are brand new. See the fresh details below.
First of all, the black Xbox 360 will be officially known as the Xbox 360 Elite.
The Elite will be manufactured in limited quantities, possibly a few hundred thousand.
Everything included with the unit will be black, including the case, controller, and Live headset. The packaging will be new as well.
The Elite will cost $479 and will be sold alongside Premium and Core packs.
Eventually, a white version of the Elite will replace Xbox 360 Premium packs. Presumably, this will happen shortly after the Elite is sold out. Once this happens, Premiums will include the 120 GB HDD and HDMI.
There is no solid date for the Elite-to-Premium transition, though it is estimated to happen late summer or early fall.
The Elite runs cooler than the current Premium, but it is unknown if it takes advantage of 65nm chips.
Prices could remain the same when Premiums convert to 120GB/HDMI, but a price cut may still occur once the 65nm chips are implemented.
The HD-DVD player will definitely not be bundled with the Elite and Microsoft stands by its claim that it has no plans to ever integrate an HD-DVD drive into the Xbox 360.
There are no plans to integrate WiFi into the Elite or future Premium packs.