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i'm in the same boat. are there any differences between the elite and arcade other than hard drive and color? even with the rumored drop, the elite is still $120 more than this deal, the same price as a new 120 gb hard drive. and i already have an old 20 gb... any reason i should wait?

amazon has the 520 on sale right now for $37.91 plus shipping through Web's Best Deals. just ordered it