Looks like Xbox360 has been found in the wild by Engadget. That is, unless this is part of some elaborate FUD campaign by Microsoft. Which I’d never put past them, but this looks like the real deal.
Assuming this is the actual chassis, it looks nice enough, though perhaps a bit boring. I guess someone convinced them to make it look like the iPod.
Ultimately the success of the platform will be based on the content and the marketing, so the chassis shape isn’t much to get excited about. But it is definitely nice to finally see these pictures, so I know what I’ll be throwing darts at a picture of for the next five years. Just kidding. 😉