If some of you don't know, I bought a 360 a few months ago off of ebay(used), and it never did act right from the start. I recently finally got the guy to take it back, but I'm planning on buying a new one in the near future. However, I'm having some trouble making up my mind on something. The local KB Toys is selling the Arcade version for just 249.99 for this weekend. From what I've gathered, it comes with a wireless controller and 256MB of memory. I don't really care about that for now.

Basically, I was wondering if the Arcade version is the same exact thing as the Premium package, minus the 20GB hard drive and the headset, and if so, could I just buy the hard drive separately and install it on the Arcade version? I could easily save a lot of money, as you get 50% off a game if you buy the Arcade system. Thanks in advance for the response.