It's everything you'd expect it to be, apparently
Right, I just want it clear that I'm only bringing you this stuff 'cos it'd be remiss of me not to but I do want to stress that this is most likely just a bunch of rumours... especially as it's come to me from a G-Mail account of someone I don't know.Anyhoo, it's the usual stuff about a guy in a store seeing a new SKU on their inventory for an Xbox 360 'Ultimate'.
So, seeing as there's rumours pinging about that the Core package is being phased out (which contradicts the one about the Core getting HDMI as an option), this means that Microsoft will be running with just two varieties of console, the Premium and the 120Gb Elite.
So, goes the rumour, if there's only two consoles and Microsoft are slapping HDMI ports into them, what's to stop Microsoft bunging their HD-DVD drive into an Xbox 360 and calling it something suitably high-end such as the Xbox 360 Ultimate.
This mythical beast is supposed to sport the 120Gb HDD, have HD-DVD built in and have the essential HDMI output... But of course this could all just be a collection of random speculation, logical extrapolation and wishful thinking... I'll let you decide.