Finally announced after weeks of rumors, the $280 version of the Xbox 360 console arrives; it lacks a hard drive, but packs in a 256MB memory module and five Xbox Live Arcade games.

The Xbox 360 Arcade (which will replace the older Core bundle) wasn't much of a secret, what with all the spec leaks and spy shots; still, I'm glad to see Microsoft has finally gone ahead and made the thing official. Available starting today, the bundle comes with a couple key accessories lacking in the original Core package, including a wireless controller and a 256MB memory module, good for storing a handful of Xbox Live Arcade games (you don't get a hard drive, but snap-on 20GB and 120GB drives are available for future expansion). You also get five Arcade games on disc: Pac-Man Championship Edition, Uno, Luxor 2, Boom Boom Rocket, and Feeding Frenzy. The press release doesn't indicate whether these are the full games or just demos; we'll have to wait for some clarification on that question.

Anyway, the Xbox 360 Arcade is clearly intended to compete with the red-hot Nintendo Wii, which is flying off the shelves at $250. Time will tell if the new bundle will give Microsoft a boost during the holidays.

So, show of hands: who's interested in snapping up the Arcade?

Related:
Press release [Microsoft]