Recently Microsoft brought out the new generation xbox-360s. While the media has taken to calling it a "Slim" it isn't really, because it is actually the new, redesigned Xbox-360. I have just recently bought one as my old Xbox was well, very old. I'm extremely impressed with it so far, it seems to load things slightly faster on the dashboard (Though nothing noticeable in-game), runs a lot quieter and looks bad ass. Needless to say, it's the most treasured console I've ever owned.. I'm very impressed with it.
Other notable features include built in high speed Wi-Fi adapter, new and improved controller(Buttons are more responsive, has chrome finish on menu button etc), new redesigned, easily removable 250gb hard drive and it's also "Kinect Ready" if you are interested in buying the Kinect add-on when it is released. They have also stated that things like the classic "Red Ring of Death" are fixed.Here is a more detailed review: http://www.digitaltrends.com/game-console-reviews/microsoft-xbox-360-slim-review/Microsoft stating it has fixed all the problems with the previous gen 360's and listing some features: http://www.kotaku.com.au/2010/07/microsoft-we-have-learned-from-xbox-360-mistakes/