The production line the Xbox 360 Elite is officially announced. Featured in black, the console has a 120GB hard drive, HDMI port, black wireless controller and a black Xbox live headset. The Elite will retail for $479.99 and will be set to ship on April 29. And for those looking to upgrade their current Xbox 360, Microsoft will be shipping a standalone 120GB Hard Drive on the 29th as well. Here is the clip showing an interesting conversation with Albert Penello about the Xbox 360 Elite and Microsoft’s changing stance on HDMI.