The only other difference worth noting is that the Elite model should have HDMI.
All 360 models will have the same CPU and GPU running at exactly the same clock speed. They will all have the exact same amount of RAM, and will be in every way equal when it comes to actually playing games. The differences are primarily the type of connections on the back of the console, and I think the elite comes with a bunch of demos and other probably useless garbage on the hard drive.
Basically i'm considering to buy an xbox and I'm not really sure which version is the better value for what I want. What are the differences in the consoles besides color and hard drive size. Thanks for the help.