I figured that since the Xbox 360s are coming out next week, I'd just have a look to see what they're going for and I stumbled across this auction that was just about to end -
http://cgi.ebay.com/XBOX-360-PREMIUM...cmd ZViewItem
If you read it, it does say in the first sentence that it is the box and it doesn't come with the hard drive, controllers, etc... That is quite devious. Can you imagine not reading that and paying $530, then getting the package in, ripping it open and having an empty box, I'd be pissed.
I guess that it's all about reading the description before bidding.