[quote name='msdmoney']This should have been $550 IMO. The $500 price was a good drop, this is as bad as the 360 elite pricing.[/QUOTE]
I don't see how the Elite is nearly as bad as this

. I bought an Elite (not having a 360 before and looking at Elite vs Premium it seemed obvious to me to pick the Elite). In this case, it seems obvious to me to pick the old $499 SKU. MAYBE if they had given this a 160GB HD it might just start being worth it - that's the same HD upgrade the Elite has (100GB more) and then you could consider an addtional $20 for Motorstorm. But, as others have said, much to Sony's credit they don't have the proprietary HD, so saying this 20GB bump is worth $40 or $50 (if you consider Motorstorm to be worth $50 or $60) is an insult.
They should just replace the 60GB version with this 80GB one (without Motorstorm of course) at the $499 price point - especially if they nix the EE in these new models. Probably this is what will happen in the long run. So now I'm back to waiting it out a bit more (seriously, had they not introduced this I might have gotten a 60GB now - but now I'd rather wait to see what they change up for this Fall).
Just to break it down a bit, for $80 the Elite gives you:
1) 100 GB more HD space
2) HDMI output
3) an HDMI cable
4) Potentially more reliable system
5) From what I've heard the system noise is less (disc noise is not though!)
6) Black (ie, a DIFFERENT color than the old model)
The new PS3 model for $100 extra gives you:
1) 20 GB more HD space
2) A game that while currently at MSRP of $60 is not going to be that way for long
3) A likely LOSS of a key component (Emotion Engine)
Breaking down the 2, I look at the Elite's "worth" like this:
1) 100GB more space, easily worth [highlight]$50[/highlight] ($80 if you compare the inflated MS's pricing on the two HD's).
2) The HDMI output: value varies, but I plan on getting an HDMI receiver and this will be nice for that (along with the PS3 eventually). I dunno, say this is worth [highlight]$10[/highlight] even just for the convenience??
3) HDMI cable: not sure where all the lowball pricing for these comes from. I went to Fry's and for a long while I could only find $60-$100 ones. Then, in a dark, dank corner I found some $19.99 ones. So I'll be generous to the haters and say it is only worth [highlight]$10[/highlight] - it's still something and when I get that HDMI receiver I can use the pack-in cable that came with my Elite (otherwise at 6 feet it is kind of useless as it would be too short to hook up all the way to the TV).
4 and 5) Unknown and hard to put a price on, but nice potential bonuses.
6) Black system: worth [highlight]$5[/highlight] to be different

. Hey, there's a $5 PriceGrabber rebate for the Elite, so I'll count that here!
So, I look at the Elite as definitely worth the extra $80, give or take a few bucks...
As for the new PS3:
1) 20GB more space: worth, what, [highlight]$20[/highlight] at the MOST (and that's pricing it higher per GB than for the Elite)
2) Motorstorm: sorry, worth no more than $20 to me given CAG and it's inevitable price drop. OK, I'll be generous and say [highlight]$30[/highlight] since that seems to be the likely "greatest hits" pricing. Personally I would wait for a drop to $30 or $20 and then pick it up on a price match at Gamecrazy for $20 (from a Target sale or something) and use trade-in credit that makes it only cost half that

.
3) Removal of EE: Unlike the unknowns for the 360, this potential item will detract from the value. I'll leave it at $0 for now. This actually doesn't bother me a ton since I have a

ing PS2 and I don't get all the hype over upscaling (unless you are re-rendering which would have to be done via software I'd think, how can you get more detail out of what was a 480i game?)
So, this new SKU is worth a whopping $50 more, at MOST. I admit, if they brought this out at $550 I'd seriously consider it. Even then, though, I'd be hesitant because I think the 80GB units will replace the 60GB down the line - then you are paying $50 just for Motorstorm again

.