The bundle features, of course, a red system and wireless controller, as well as a copy of the game (which stars Chris Redfield!) It also includes a black, wired headset, a 120GB hard drive, an exclusive Resident Evil premium theme, and Super Street Fighter 2 Turbo HD Remix! All this for -- oh, we don't know how much, actually, nor do we know when it'll be available. Toys R Us listed $399 for the price, and we're inclined to believe it.
Update: Now it's even more official...er! Major Nelson has confirmed that the Resident Evil 5 bundle will retail for $399 and posted some high-res photos for your analysis.