ANSWERS: 3
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As of right now it's just rumor. While there's growing evidence to support the rumor, it's up to you whether you want to wait for something that may or may not be a reality. If you're not dead-set on getting one right now you can wait it out through the holiday season & see what happens. If you really wanna play some of the new games coming out in the next few weeks (MGS4 for example) then go ahead and get whichever model you want.
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Unless you are an extreme gamer, 120 gb is a HUGE amount of storage. It's a bummer they discontinued the 60 gb, but unless you really truly think you'll use that memory up, I think the current one is just fine.
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The best bet is for you to get the MGS4 bundle package. It's a 80gb top of line model that is out at the moment. 80gb is more then enough room, besides you get MGS4 and a True next gen console. As far as 120gb, you can always upgrade the Hard Drive later down the road.
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