Elite... is it worth it?

I had bought an XBOX 360 approximately one year after they were exposed to the market. I have had plenty of time to toy and play with this console to gain a consensus on its flaws and general aspects which set it apart from the other consoles.
As far as the good parts of the Xbox 360 console system:
-Graphically, this system is the best console out there. Sure the Ps3 has much more raw power but none of it is allocated as it should to the graphics portion. So he 360 reigns champion furthermore on graphics despite being released a year earlier.
-Online play, XBOX Live is perhaps the most wide known online system of online play. As long as you have a decent connection online play is fun.
-Game variety, There seemingly is no end to the myriad of games they are consistently producing.

As far as the negative spectrum of the system:
The only major flaw i have found with this system is there seems to be the occurrence of it breaking down due to hardware failures. Fortunately enough, Microsoft usually replaces these free of charge and if the hard disk is not the problem you can keep the Hard drive retaining all of the valuable "gamerscore" and profiles you have created.
The online play is also a negative because it is not free, however it is not steep in any means (50 bucks for 12 months). 

The Elite system  brings in a new dimension to the 360, a larger hard drive, new look, and a slightly more powered core.  If you think this is vastly better than your regular Xbox 360 in terms of performance, you are sadly wrong.  The Elite is not incredibly souped up in any means.  The Elite however has one main perk, a larger hard drive.  This and the new colour makes it seem somewhat ideal for the fashionista and true gamer.  I suggest it merely due to the hard drive and new look.