The rumor exists but the truth behind it is pretty lacking. Microsoft has not verified anything and the pictures that you are referring to could easily be photoshopped. I fully expect MS to release a larger HDD as an accessory but I doubt HDMI will be included because of the limits that the current hardware present to outputting a digital signal.
Is the XBOX 360 rumor true? is there a black 360 in the production and ready to be released on may 1st? fully equipped with and HDMI interface a whopping 120gb hard drive. if anyone feels the need to discuss then please do by all means and if anyone knows any information regarding this rumor please post it as well...

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