QUOTE(pimmysays @ Apr 22 2007, 11:56 PM)

so would I save $ doing this or what?
Since the 120GB HDD from MS retails for close to $200 and the typical HDD you would need to get for this would run about $80, I would say yes - this will save you some a decent amount of money. Of course, if you don't have any experience hacking the xbox, you may want to think twice about doing this yourself.
The one thing I don't see mentioned is the ability to transfer content from your current 20GB model. I apologize if this has been covered somewhere else, but I haven't seen that mentioned here before. Of course, that was never a topic I thought about looking into until now.
When I heard the story in the news about the Elite version coming out - more importantly, the ability to upgrade to a bigger HDD - I heard that it would be possible to do a one time transfer of your content to the bigger drive, but you would never be able to transfer back to the smaller drive or any other drive. Of course, that seemed a little odd to me, but I didn't bother checking to see if that was really the case.