Well here we go again.  it's rumored that during Bill Gates keynote at CES next week a new Xbox 360 model dubbed Ultimate will be announced.  This model will include Wifi, DVR functionality and a built in HD-DVD drive.  This device will compete directly feature to feature against the PS3 and be the ultimate multimedia device.

As much as I think wifi should be included in the 360 I don't think this rumor is true.  Unlike previous rumors we got a few glimpses of leaked images of the Elite.  There were photos of the larger hard drive from presentations.  This time around there is not of that.  I suspect that the only big Xbox 360 announcements at CES will be maybe a price cut or the roll out of IPTV.