Maybe that slick new Xbox 360 Slim is within your reach thanks to an offer from popular game retailer GameStop.

They have laid out an offer that will not actually let you trade your old unit for a new one straight up but you could easily apply your old Xbox 360 hardware to make up over half of the new consoles cost.

GameStop Xbox 360 Upgrade Offer

  • Up to $100 for Xbox 360 System with Wired or Wireless Controller. The controller, AC and A/V cable are required.
  • Hard Drives
    • 20GB – $30
    • 60GB – $35
    • 120GB – $40
    • 250GB – $50
  • Memory Cards
    • 64MB – $10
    • 256MB – $14
    • 512MB – $18
  • Wireless Adapters
    • Wireless G Adapter – $40
    • Wireless N Adapter – $50
  • Controllers
    • Wired Xbox 360 Controller – $20
    • Wireless Xbox 360 Controller – $25

There is some small print on the page that explains how you will get to move your data from the old Xbox 360 to the new one:

Customers will be given 7 days from the date of new hardware purchase to transfer data off of, and return with, a hard drive to trade. Proof of purchase must be shown to receive promotional hard drive trade-in value.

I think that might be the one element of this offer that is misleading.  I called my local GameStop and asked about this and the clerk told me that the proof of purchase that paragraph refers to is the purchase of the new Xbox 360 Slim console – not the individual hard drive itself.  For a minute there I thought they were going to want a proof of purchase for the actual hard drive.  Any of you still have that?  Yeah, me neither.

Anyway, what do you think? Creative accounting or a good deal?