Just saw this in the latest DSE catalogue that I received in the mail. The catalogue doesn't seem to be published online yet. The deal is on page 10.
Xbox 360 Arcade Console for $238.
Great price even when considering that the rrp has dropped to $299. No wonder they were giving these away with their TV's in the last catalogue.
I'd hope that these consoles would still be eligible for this deal -> http://www.ozbargain.com.au/node/7169 (hopefully with the 3 month live subscription) but I'm not 100% sure since they already come with a 256MB memory card. If anyone gives it a go please let us know of the results. If it works then that's a pretty sweet setup: $238 + $25 = $263 for a console and 20GB hard drive. No headset or HD cable though but you can buy that separately.
(Edited by scotty — updated with link to DSE)
all current 360 have a HDMI output as standard., all you need to get HD output from an Arcade is a $10 HDMI cable. Headsets are free if you buy a Live kit (with 12 months subscription) and you have no real need for a headset without a Live subscription anyway.
Bottom line, this is a great deal.