Microsoft just got real with the new Xbox 360 and was launched at the price of $299, while the old Elite will stick around for $249 and the Arcade will drop to $149. It is said that the new box is crazy sexy in glossy black with touch-sensitive buttons, and Microsoft says it’s “whisper quiet,” with one large fan instead of two — the new 45nm chipset undoubtedly generates less heat to begin with. On the features front, it’s got integrated 2.4GHz 802.11n WiFi, five USB ports, and 250GB of storage on a removable hard drive, although it’s not a standard drive or same drive as the old console, and older Memory Units won’t work, either. Upgraders can use a USB-to-Xbox  hard drive connector cable to migrate to the new box, however. There’s also a “custom Kinect port” on the back that looks like an HTC-style ExtUSB port, and it also seems like the power supply has moved inside the case, which is a welcome change. New Xbox  360 units are shipping to retailers now, with availability expected later this week, and MS conference attendees are actually getting theirs shipped today.

If you’re in Europe, don’t fret, as yours is coming soon. Microsoft’s official Xbox Twitter account has confirmed the console hits there on July 16.

Well, how about when you’re in the Philippines? Is the price just converted $299 to peso or much higher in cost? Let us see.