70Gig Hard Drive for 360?

Take a look at the photo below, snapped yesterday from the floor of an XBox Live event. If my eyes do not deceive me, that looks like a 70Gig Hard Drive. Microsoft hasn't officially let the cat out of the bagel, but it looks official enough. Could be something specifically created for the event, though it seems to be a standard 360. Could be the real deal Holyfield. We'll see.