According to an "inside source," it seems Microsoft may be planning to introduce new hardware units into the Xbox 360 family, adding HDMI output and a smaller processor.
These new models will simply be upgraded "core" and "premium" 360s. No changes will be made to hard drive capacity or bundled accessories, but they will include an HDMI port and run on a 65nm processor rather than the current 90nm CPU. It is also entirely possible that quieter optical drives will be included in the new model.
Microsoft will likely sell through their existing inventory (with a little help from that August 14th price cut) and phase out the older model 360s. The new units will be "soft-launched" some time in late August or September, and will bear a special mark on the retail box to identify the revision.
Hopefully, this update to the system’s hardware specs will solve some of those small issues I can’t help but think I might have possibly heard about somewhere or another.