So ... what is it? As you can see in the image, the box seems to be on the opposite end of the spectrum from the Elite, which maybe indicates that it's at the opposite end of the pricing spectrum too. We heard about some new, cheaper production methods for the 360, could this be a low-priced model taking advantage of that? We'll hopefully find out tonight.
[Update: There's at least one image (right here) on GSB's flickr site that's showing four 360 models. But when zoomed in, the far left console appears to be white. So, is it gray or white? And what is it? We just don't know. Thanks for the heads up, Cyrus.]