With more details emerging about the Xbox Elite, we're finding that the provided HDMI isn't quite the Holy Grail—at least according to one AVS forums Microsoft "insider."
While you already know that the new Xbox Elite will feature HDMI like its PS3 counterpart has since launch, the Elite's HDMI will be slightly gimped, running at the 1.2 standard instead of the 1.3. What does this mean for you? Neither of the newest Lossless formats (Dolby Digital+ nor True HD) can be passed through its HDMI (not that you'd notice in most TV audio setups).
This is not to say I wouldn't still trade my 20GB model for the Elite—I'd just be a bit less pleased with the whole experience. On the plus side, a Spring update should bring 1080p IRE-level adjustments to the VGA port on all 360 models.