Xbox 360 fans listen up – May 1st could end up being known as Black Tuesday as Gizmodo is reporting that Microsoft may launch the new Xbox 360 black console edition that day. How did they come up with this notion? Well, game retailer “Game Crazy” had the black Xbox 360 SKU listed for $479.99 and scheduled for release on May 1st – that’s how!

The rumored new Xbox 360 console will have a 120GB HDD and a new HDMI video output connector. The only downside to this rumor is – the apparent increase in price for the 360 console. Still.. $479.99 is a cheaper price than the PS3!

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