Lol. I honestly think the Elite's package is only that the system is black, sorry to say. You get a Black controller, a Black headset, and a Black system. With a 120GB HDD, up from 20GB, and you also get the HDMI cable. Which if your going to buy a 360, and be a gamer, they dont even give you a wireless adapter which is another 100 bucks. So if you buy low version, then a 120GB HDD at like 120 bucks, then the wireless black controller(which you can get in blue etc) for 40 bucks, then the wireless adapter for 100 bucks, and an XBox 360 skin to make it whatever color you want for say, 30 bucks, thats $540 dollars, less then the Elite itself.
Also, the Elite, isnt that Elite, it is supposed to be a Limited Edition, that has been selling for if not over a year. So there isnt really anything THAT good about the Elite, which is why I bought my PS3...
Oh but on topic with the cheaper then a Wii. I think the Wii is Nintendo, and Nintendo is always cheaper. But them dropping the prices probably isnt really good. I know PS3 had to drop prices, but XBox dropping prices, they are trying to sell systems, which of course is the point. But not many people, or gamers, want the Arcade Xbox 360 anyway, it has a wireless controller, and no HDD, so like...its a 300 or so dollar XBox...yeah, exactly, which is why even if the 360 does drop below a Wii, I will still buy a Wii if I have 300 bucks laying around.