Microsoft today finally confirmed the worst-kept secret in the gaming biz right now: the Xbox 360 Elite is coming to store shelves on April 29 and will cost $479.99.

The rumors about what the Elite will come with were pretty much on the money: a 120 GB hard drive (which will also go on sale separately for $179.99), a wireless controller and headset in black, HDMI cable and a one-month Gold membership to Xbox Live. You will also be able to buy matching black play and charge kit and battery for your fashionable black controller just to ensure that your color scheme doesn’t clash with the white 360 look.

The big reason for the Elite model of Xbox 360 is Microsoft’s push to offer more high definition entertainment to its customers. On the same day that it officially announced the Elite the company also said that it would be beefing up the HD content it offers via Xbox Live.

Paramount Pictures will be offering some of its movies available for download on the service in HD. Warner Bros. Home Entertainment will also offer Xbox Live subscribers the opportunity to download DVD titles, such as the upcoming “Babylon 5: The Lost Tales” direct-to-DVD movie, on the same date that they go on sale in stores. AVD Films, A&E Network, National Geographic and TotalVid.com will also put their wares on the network shortly.