Remember that rumored new Elite bundle with Halo 3 and Fable 2? It’s official. For $400 you get a 120GB Elite 360 with the two games. As we told you when this was but a rumor, that’s what the console by itself is selling for at the moment.

After hearing rumors that Microsoft was going to phase out the standard Elite and offer bundled “limited edition” models, we kinda knew this was for real. Go ahead and pick one up if you haven’t already played Halo 3 and Fable 2.

This may be nothing… but ArsTechnica has some info from a reliable source that Microsoft is preparing to ship a new Xbox 360 Elite. This one would come bundled with Halo 3 and Fable 2, while only costing $400. That’s what the console alone costs right now.

We recently heard rumors that Microsoft was going to phase out the standard Elite and offer bundled “limited edition” models, so the info fits.