So we're still about five hours away from Microsoft's E3 press conference (which will be streamed live on Xbox.com, by the way), and all anyone can talk about is this weird gray 360 spotted on the floor of the conference hall (it's the console on the left).

The debate has raged -- RAGED, I tell you -- over whether this is a new model, a debug kit, or simply an odd lighting effect on a standard Xbox 360.

Fanning the flames of the rumormongers is that the fact that the picture was originally posted on Microsoft's official Gamescore Blog site, but was then quickly pulled!

Dear, oh dear. What can this be? My initial assumption is that it's simply a funky lighting effect. But why pull the photo? The most plausible alternative that I've heard to the lighting blooper explanation is that this is the IPTV Xbox 360 that Microsoft previously talked about that will work like a souped-up cable TV box.

Worst case scenario? This is another 360 model, to go along with the elite, premium and core. Man, I hope Microsoft isn't that dumb.

Marc Note: The Mystery Revealed: A Special Limited Edition of a Halo 3 Xbox 360. I watched Microsoft's entire Media Briefing, waited with baited breath and with little fanfare the box was revealed, and quickly put back behind the podium. No specific details on the unit. Is it an Elite, a Premium? Who cares! Another attempt to milk us into buying yet another 360! Of course it will sell like crazy!