On the cusp of the holiday gaming season, Microsoft is offering a deal to gamers who purchase a 120 GB Xbox 360. If you buy one in the next couple weeks, you'll be able to get a $50 rebate on the $299 model.

To be eligible for the rebate, you must purchase an Xbox 360 "Elite" sometime between today and October 5th. Then you'll need to visit this site for instructions on how to receive your $50 rebate. Mail-in rebate forms must be postmarked by November 20, 2009. The offer only applies to the United States.

The "Elite" model had its price reduced from $399 to $299 this summer. The 60 GB "Pro" model's price was lowered from $299 to $249 and is being gradually phased out.